Primecap Management Co. CA Takes Position in Universal Display Corporation $OLED

Primecap Management Co. CA purchased a new stake in Universal Display Corporation (NASDAQ:OLED - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,195,818 shares of the semiconductor company's stock, valued at approximately $190,136,000. Primecap Management Co. CA owned about 4.78% of Universal Display as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OLED. Quantinno Capital Management LP boosted its stake in shares of Universal Display by 776.6% in the 1st quarter. Quantinno Capital Management LP now owns 251,218 shares of the semiconductor company's stock valued at $23,027,000 after purchasing an additional 222,561 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Universal Display during the second quarter worth approximately $2,025,000. NewEdge Wealth LLC acquired a new position in Universal Display in the second quarter valued at approximately $2,032,000. Caxton Associates LLP lifted its holdings in Universal Display by 132.6% in the first quarter. Caxton Associates LLP now owns 43,818 shares of the semiconductor company's stock valued at $4,016,000 after buying an additional 24,977 shares during the period. Finally, Systematic Financial Management LP boosted its stake in Universal Display by 40.2% in the fourth quarter. Systematic Financial Management LP now owns 196,515 shares of the semiconductor company's stock valued at $22,949,000 after acquiring an additional 56,320 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Needham & Company LLC lowered their target price on shares of Universal Display from $120.00 to $100.00 and set a "buy" rating for the company in a report on Friday, July 31st. Weiss Ratings downgraded Universal Display from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Citigroup reduced their price target on Universal Display from $100.00 to $85.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. Zacks Research raised Universal Display from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. Finally, BTIG Research downgraded Universal Display to a "neutral" rating in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Universal Display currently has a consensus rating of "Hold" and a consensus price target of $116.33.

Universal Display Stock Up 5.5%

Shares of NASDAQ:OLED opened at $89.38 on Wednesday. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 21.64 and a beta of 1.54. Universal Display Corporation has a 12 month low of $76.42 and a 12 month high of $153.38. The company's fifty day simple moving average is $84.23 and its 200 day simple moving average is $93.29.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.03. The firm had revenue of $152.16 million during the quarter, compared to analyst estimates of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The company's revenue for the quarter was down 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 EPS. Research analysts expect that Universal Display Corporation will post 4.17 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 16th. Universal Display's dividend payout ratio is currently 48.43%.

Universal Display Company Profile

Universal Display Corporation NASDAQ: OLED is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display's core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.

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