Principal Financial Group Inc. Sells 24,520 Shares of Universal Display Co. (NASDAQ:OLED)

Principal Financial Group Inc. lessened its holdings in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 19.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,208 shares of the semiconductor company's stock after selling 24,520 shares during the quarter. Principal Financial Group Inc. owned about 0.22% of Universal Display worth $14,943,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Glenmede Trust Co. NA increased its position in shares of Universal Display by 1.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company's stock valued at $1,269,000 after purchasing an additional 97 shares during the last quarter. BNP Paribas Financial Markets grew its position in Universal Display by 8.8% during the third quarter. BNP Paribas Financial Markets now owns 52,713 shares of the semiconductor company's stock valued at $11,064,000 after acquiring an additional 4,269 shares during the last quarter. Montanaro Asset Management Ltd grew its position in Universal Display by 217.4% during the third quarter. Montanaro Asset Management Ltd now owns 63,260 shares of the semiconductor company's stock valued at $13,278,000 after acquiring an additional 43,330 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Universal Display by 385.2% during the third quarter. Cerity Partners LLC now owns 8,588 shares of the semiconductor company's stock worth $1,803,000 after acquiring an additional 6,818 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Universal Display by 37.2% in the 4th quarter. Pacer Advisors Inc. now owns 27,246 shares of the semiconductor company's stock worth $3,983,000 after acquiring an additional 7,390 shares during the last quarter. Institutional investors own 78.19% of the company's stock.

Universal Display Trading Up 1.7 %

NASDAQ OLED traded up $2.63 on Friday, hitting $153.62. The company's stock had a trading volume of 594,590 shares, compared to its average volume of 747,876. The firm has a market cap of $7.29 billion, a P/E ratio of 33.04, a PEG ratio of 1.61 and a beta of 1.39. Universal Display Co. has a 52-week low of $140.17 and a 52-week high of $237.00. The company's 50-day simple moving average is $148.76 and its 200 day simple moving average is $173.34.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.14. The company had revenue of $162.29 million during the quarter, compared to analyst estimates of $152.75 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. On average, research analysts forecast that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.45 dividend. This is an increase from Universal Display's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Monday, March 17th. Universal Display's dividend payout ratio is presently 38.71%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on OLED shares. Susquehanna reduced their target price on shares of Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Needham & Company LLC reduced their price objective on Universal Display from $215.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Roth Mkm boosted their target price on Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a research note on Friday, February 21st. The Goldman Sachs Group reduced their price target on Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Finally, Oppenheimer lowered their price objective on Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $190.43.

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.