Universal Display Co. (NASDAQ:OLED) Stock Holdings Cut by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 25.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 126,728 shares of the semiconductor company's stock after selling 43,241 shares during the period. Principal Financial Group Inc. owned 0.27% of Universal Display worth $26,600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of OLED. SageView Advisory Group LLC purchased a new stake in Universal Display in the 1st quarter worth $1,179,000. Tidal Investments LLC grew its stake in Universal Display by 172.0% in the first quarter. Tidal Investments LLC now owns 6,246 shares of the semiconductor company's stock valued at $1,052,000 after purchasing an additional 3,950 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Universal Display by 375.1% during the second quarter. Harbor Capital Advisors Inc. now owns 10,043 shares of the semiconductor company's stock worth $2,112,000 after acquiring an additional 7,929 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Universal Display during the first quarter worth about $620,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Universal Display by 1.1% during the first quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company's stock worth $769,374,000 after purchasing an additional 50,233 shares during the period. Hedge funds and other institutional investors own 78.19% of the company's stock.

Insiders Place Their Bets

In other Universal Display news, Director Lawrence Lacerte bought 742 shares of Universal Display stock in a transaction dated 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 purchase, the director now owns 122,372 shares in the company, valued at $22,135,871.08. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

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

Universal Display Stock Performance

Shares of OLED traded down $3.56 during trading hours on Wednesday, hitting $168.99. 171,544 shares of the stock were exchanged, compared to its average volume of 372,342. The stock's 50-day moving average price is $199.91 and its two-hundred day moving average price is $195.77. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 34.29, a price-to-earnings-growth ratio of 1.85 and a beta of 1.43. Universal Display Co. has a 12-month low of $148.75 and a 12-month high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating 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 business had revenue of $161.63 million during the quarter, compared to analysts' expectations of $165.28 million. During the same quarter last year, the business posted $1.08 EPS. The business's quarterly revenue was up 14.6% compared to the same quarter last year. On average, research analysts expect that Universal Display Co. will post 4.79 earnings per share for the current year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display's dividend payout ratio (DPR) is presently 32.13%.

Universal Display 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.