Universal Display Co. (NASDAQ:OLED) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lowered its stake in shares of Universal Display Co. (NASDAQ:OLED) by 2.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,849,382 shares of the semiconductor company’s stock after selling 45,635 shares during the period. Primecap Management Co. CA’s holdings in Universal Display were worth $388,185,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its holdings in shares of Universal Display by 60.2% during the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock worth $36,000 after buying an additional 65 shares during the last quarter. Red Spruce Capital LLC grew its holdings in shares of Universal Display by 0.7% during the second quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock worth $2,343,000 after buying an additional 76 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Universal Display by 7.6% during the second quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock worth $284,000 after buying an additional 96 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Universal Display by 42.1% during the third quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock worth $68,000 after buying an additional 96 shares during the last quarter. Finally, Prospera Financial Services Inc grew its holdings in shares of Universal Display by 4.4% during the third quarter. Prospera Financial Services Inc now owns 2,576 shares of the semiconductor company’s stock worth $542,000 after buying an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

Shares of NASDAQ:OLED opened at $165.90 on Thursday. Universal Display Co. has a 12 month low of $148.75 and a 12 month high of $237.00. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 33.31, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43. The business’s 50 day simple moving average is $196.85 and its 200-day simple moving average is $195.75.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.21. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The firm had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. During the same period in the previous year, the firm posted $1.08 EPS. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, equities analysts anticipate that Universal Display Co. will post 4.79 earnings per share for the current year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 annualized dividend and a dividend yield of 0.96%. Universal Display’s dividend payout ratio is currently 32.13%.

Analysts Set New Price Targets

A number of brokerages have weighed in on OLED. Oppenheimer lowered their price objective on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Susquehanna lifted their price objective on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. TD Cowen lowered their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Roth Mkm lifted their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC lowered their price objective on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.63.

Insider Buying and Selling

In other Universal Display news, Director Lawrence Lacerte purchased 742 shares of the business’s stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the acquisition, the director now owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. The trade was a 0.61 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.90% of the company’s stock.

Universal Display Company Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.