Primecap Management Co. CA Has $256.05 Million Stock Holdings in Universal Display Corporation (NASDAQ:OLED)

Key Points

• Primecap Management Co. CA increased its stake in Universal Display Corporation (OLED) by 2.1% in Q1, owning a total of 1,835,722 shares worth approximately $256 million.
• Universal Display reported a notable earnings per share (EPS) of $1.41 for the last quarter, exceeding analysts' estimates, alongside a revenue of $171.79 million, which was also above expectations.
• The company declared a quarterly dividend of $0.45, with a subsequent annualized dividend yield of 1.3%, effective for investors recorded prior to September 16th.

Primecap Management Co. CA raised its holdings in Universal Display Corporation (NASDAQ:OLED - Free Report) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,835,722 shares of the semiconductor company's stock after purchasing an additional 38,590 shares during the period. Primecap Management Co. CA owned 3.86% of Universal Display worth $256,047,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new position in shares of Universal Display in the 4th quarter valued at $29,000. Golden State Wealth Management LLC raised its holdings in Universal Display by 4,700.0% in the first quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company's stock valued at $33,000 after buying an additional 235 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Universal Display in the fourth quarter worth $40,000. Global X Japan Co. Ltd. acquired a new stake in Universal Display in the 1st quarter valued at $49,000. Finally, Transce3nd LLC acquired a new stake in Universal Display in the 4th quarter valued at $54,000. Hedge funds and other institutional investors own 78.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OLED. Wall Street Zen raised shares of Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and set a $170.00 price objective on shares of Universal Display in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Universal Display has a consensus rating of "Moderate Buy" and a consensus price target of $190.43.

Universal Display Price Performance

Shares of OLED traded down $0.88 during midday trading on Friday, reaching $137.65. The stock had a trading volume of 454,416 shares, compared to its average volume of 502,042. The company has a market capitalization of $6.54 billion, a P/E ratio of 26.88, a P/E/G ratio of 1.48 and a beta of 1.47. The firm's 50 day moving average price is $152.01 and its 200-day moving average price is $144.83. Universal Display Corporation has a 52 week low of $103.70 and a 52 week high of $215.90.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.18 by $0.23. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The firm had revenue of $171.79 million for the quarter, compared to analysts' expectations of $161.58 million. During the same period in the previous year, the business earned $1.10 earnings per share. Universal Display's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts forecast that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.45 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 1.3%. Universal Display's payout ratio is 35.16%.

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.