Universal Display Co. (NASDAQ:OLED) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 25.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,728 shares of the semiconductor company's stock after selling 43,241 shares during the period. Principal Financial Group Inc. owned about 0.27% of Universal Display worth $26,600,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. acquired a new position in shares of Universal Display during the 3rd quarter valued at $29,000. Brooklyn Investment Group purchased a new position in Universal Display in the third quarter valued at about $30,000. V Square Quantitative Management LLC acquired a new position in shares of Universal Display during the third quarter worth about $31,000. Nisa Investment Advisors LLC boosted its position in shares of Universal Display by 60.2% in 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 period. Finally, True Wealth Design LLC acquired a new stake in shares of Universal Display in the third quarter valued at about $36,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Stock Up 1.3 %

Shares of Universal Display stock traded up $2.02 on Wednesday, hitting $153.46. 191,297 shares of the company's stock traded hands, compared to its average volume of 406,952. The firm's 50-day moving average is $172.69 and its 200 day moving average is $192.76. The stock has a market cap of $7.28 billion, a P/E ratio of 30.82, a PEG ratio of 1.74 and a beta of 1.40. Universal Display Co. has a 52-week low of $148.09 and a 52-week high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.21. The firm had revenue of $161.63 million for the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm's revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 EPS. Equities research analysts forecast that Universal Display Co. will post 4.8 EPS for the current year.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display's dividend payout ratio is currently 32.13%.

Insider Activity at Universal Display

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the firm's stock in a transaction on Monday, November 4th. The stock was purchased at an average price of $180.89 per share, with a total value of $134,220.38. Following the completion of the acquisition, the director now directly owns 122,372 shares in the company, valued at $22,135,871.08. This trade represents a 0.61 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. TD Cowen reduced their price target on Universal Display from $250.00 to $225.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Oppenheimer reduced their target price on shares of Universal Display from $240.00 to $220.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. Finally, Needham & Company LLC decreased their target price on shares of Universal Display from $242.00 to $215.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $210.71.

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.