Primecap Management Co. CA Buys 38,590 Shares of 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 boosted its holdings in Universal Display Corporation (NASDAQ:OLED - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,835,722 shares of the semiconductor company's stock after buying an additional 38,590 shares during the quarter. Primecap Management Co. CA owned 3.86% of Universal Display worth $256,047,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in OLED. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Universal Display by 2.8% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,536,513 shares of the semiconductor company's stock worth $370,838,000 after purchasing an additional 69,043 shares during the period. Geode Capital Management LLC boosted its stake in shares of Universal Display by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company's stock valued at $131,806,000 after buying an additional 101,963 shares during the period. Greenhouse Funds LLLP boosted its stake in shares of Universal Display by 11.2% during the 4th quarter. Greenhouse Funds LLLP now owns 583,603 shares of the semiconductor company's stock valued at $85,323,000 after buying an additional 58,775 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Universal Display by 41.5% during the 4th quarter. Janus Henderson Group PLC now owns 551,673 shares of the semiconductor company's stock valued at $80,674,000 after buying an additional 161,782 shares during the period. Finally, Brown Advisory Inc. acquired a new stake in shares of Universal Display in the 1st quarter valued at $72,327,000. Institutional investors and hedge funds own 78.19% of the company's stock.

Universal Display Trading Down 0.6%

Universal Display stock traded down $0.88 on Friday, reaching $137.65. 454,416 shares of the stock were exchanged, compared to its average volume of 502,042. The stock has a market cap of $6.54 billion, a PE ratio of 26.88, a PEG ratio of 1.47 and a beta of 1.47. Universal Display Corporation has a twelve month low of $103.70 and a twelve month high of $215.90. The firm has a fifty day moving average price of $152.01 and a two-hundred day moving average price of $144.81.

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

Universal Display Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OLED. Wall Street Zen raised shares of Universal Display from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $170.00 price objective on shares of Universal Display in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Universal Display currently has a consensus rating of "Moderate Buy" and a consensus price target of $190.43.

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.