Primecap Management Co. CA Sells 52,250 Shares of Universal Display Co. (NASDAQ:OLED)

Primecap Management Co. CA lowered its holdings in Universal Display Co. (NASDAQ:OLED) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,797,132 shares of the semiconductor company’s stock after selling 52,250 shares during the quarter. Primecap Management Co. CA’s holdings in Universal Display were worth $262,741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of OLED. Raymond James Financial Inc. bought a new stake in shares of Universal Display during the 4th quarter worth approximately $41,504,000. Jennison Associates LLC lifted its holdings in shares of Universal Display by 58.2% during the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock worth $99,975,000 after acquiring an additional 251,557 shares during the period. Citigroup Inc. lifted its holdings in shares of Universal Display by 1,387.6% during the 3rd quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock worth $54,936,000 after acquiring an additional 244,129 shares during the period. Barclays PLC lifted its holdings in shares of Universal Display by 753.8% during the 3rd quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock worth $44,608,000 after acquiring an additional 187,627 shares during the period. Finally, Southpoint Capital Advisors LP lifted its holdings in shares of Universal Display by 46.0% during the 3rd quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock worth $76,614,000 after acquiring an additional 115,000 shares during the period. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $156.51 on Tuesday. Universal Display Co. has a 52-week low of $140.17 and a 52-week high of $237.00. The firm has a 50 day moving average price of $148.99 and a two-hundred day moving average price of $170.31. The stock has a market cap of $7.43 billion, a P/E ratio of 33.66, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.14. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The firm had revenue of $162.29 million during the quarter, compared to analysts’ expectations of $152.75 million. Analysts predict that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, March 17th. This is a boost from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.15%. Universal Display’s dividend payout ratio is 38.71%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on OLED shares. The Goldman Sachs Group cut their price target on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Oppenheimer cut their price target on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, January 2nd. Needham & Company LLC lowered their price objective on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, February 21st. StockNews.com cut shares of Universal Display from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Finally, Roth Mkm upped their price objective on shares of Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.43.

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.