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

Primecap Management Co. CA decreased its holdings in Universal Display Co. (NASDAQ:OLED - Free Report) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,849,382 shares of the semiconductor company's stock after selling 45,635 shares during the quarter. Primecap Management Co. CA owned 3.90% of Universal Display worth $388,185,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OLED. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Universal Display in the 2nd quarter worth about $127,668,000. Raymond James & Associates raised its holdings in shares of Universal Display by 629.9% during the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company's stock valued at $56,550,000 after acquiring an additional 232,503 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Universal Display by 66.6% during the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company's stock valued at $73,099,000 after acquiring an additional 173,496 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Universal Display during the second quarter valued at approximately $34,558,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Universal Display during the second quarter valued at approximately $23,500,000. Institutional investors and hedge funds own 78.19% of the company's stock.

Universal Display Trading Up 0.9 %

NASDAQ:OLED opened at $165.90 on Thursday. The firm has a market cap of $7.87 billion, a PE ratio of 33.31, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43. The stock has a fifty day moving average price of $196.85 and a 200 day moving average price of $195.75. 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 released its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.21. The firm had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. Universal Display's revenue was up 14.6% compared to the same quarter last year. During the same period last year, the business posted $1.08 earnings per share. Equities analysts forecast that Universal Display Co. will post 4.79 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Tuesday, December 17th. Universal Display's dividend payout ratio is presently 32.13%.

Insider Buying and Selling at Universal Display

In other Universal Display news, Director Lawrence Lacerte purchased 742 shares of the business's stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the purchase, the director now directly owns 122,372 shares in the company, valued at approximately $22,135,871.08. This represents a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on OLED. TD Cowen reduced their target price on Universal Display from $250.00 to $225.00 and set a "buy" rating for the company in a report on Thursday, October 31st. Roth Mkm increased 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 cut 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 cut 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, Susquehanna increased their price objective on Universal Display from $170.00 to $175.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.63.

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.

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