Primecap Management Co. CA Raises Holdings in Universal Display Corporation $OLED

Primecap Management Co. CA increased its position in shares of Universal Display Corporation (NASDAQ:OLED) by 20.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,215,308 shares of the semiconductor company’s stock after purchasing an additional 379,586 shares during the quarter. Primecap Management Co. CA’s holdings in Universal Display were worth $342,176,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Cerity Partners LLC lifted its position in shares of Universal Display by 47.6% in the first quarter. Cerity Partners LLC now owns 6,401 shares of the semiconductor company’s stock valued at $893,000 after acquiring an additional 2,064 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Universal Display by 47.0% during the 1st quarter. Signaturefd LLC now owns 557 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 178 shares during the period. Wealth Alliance LLC acquired a new position in shares of Universal Display in the 1st quarter worth approximately $293,000. Allianz Asset Management GmbH acquired a new stake in shares of Universal Display in the first quarter valued at $279,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Universal Display during the 1st quarter worth approximately $615,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OLED has been the topic of several recent analyst reports. Zacks Research upgraded shares of Universal Display from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Universal Display in a report on Wednesday, October 8th. Finally, Needham & Company LLC cut their price objective on Universal Display from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.33.

Universal Display Price Performance

Shares of NASDAQ OLED opened at $111.66 on Wednesday. The business’s fifty day moving average price is $139.93 and its two-hundred day moving average price is $145.45. The firm has a market capitalization of $5.31 billion, a PE ratio of 21.81, a P/E/G ratio of 4.38 and a beta of 1.60. Universal Display Corporation has a 1-year low of $103.70 and a 1-year high of $173.45.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.27). The company had revenue of $139.61 million for the quarter, compared to the consensus estimate of $165.56 million. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. Universal Display’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.40 earnings per share. Universal Display has set its FY 2025 guidance at EPS. Equities research analysts expect that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, December 17th. Universal Display’s payout ratio is currently 38.79%.

About Universal Display

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.