Primecap Management Co. CA Has $342.18 Million Position in Universal Display Corporation $OLED

Primecap Management Co. CA lifted its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 20.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,215,308 shares of the semiconductor company’s stock after purchasing an additional 379,586 shares during the period. Primecap Management Co. CA owned 4.66% of Universal Display worth $342,176,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Universal Display by 73.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,407,846 shares of the semiconductor company’s stock valued at $614,806,000 after purchasing an additional 1,871,333 shares during the period. Raymond James Financial Inc. raised its stake in Universal Display by 64.4% in the 1st quarter. Raymond James Financial Inc. now owns 466,612 shares of the semiconductor company’s stock valued at $65,083,000 after acquiring an additional 182,730 shares during the period. Copeland Capital Management LLC boosted its holdings in shares of Universal Display by 15.0% during the 2nd quarter. Copeland Capital Management LLC now owns 457,396 shares of the semiconductor company’s stock worth $70,650,000 after buying an additional 59,640 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Universal Display by 5.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 358,612 shares of the semiconductor company’s stock worth $50,019,000 after purchasing an additional 17,593 shares in the last quarter. Finally, FengHe Fund Management Pte. Ltd. acquired a new stake in Universal Display during the first quarter worth about $41,147,000. Institutional investors own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Zacks Research upgraded shares of Universal Display from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Needham & Company LLC decreased their price objective on Universal Display from $170.00 to $150.00 and set a “buy” rating for the company in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Universal Display in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Universal Display presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.33.

Universal Display Stock Performance

Shares of NASDAQ:OLED opened at $111.66 on Wednesday. The stock has a 50 day moving average price of $139.93 and a 200-day moving average price of $145.45. The firm has a market capitalization of $5.31 billion, a P/E ratio of 21.81, a P/E/G ratio of 4.38 and a beta of 1.60. Universal Display Corporation has a 52-week low of $103.70 and a 52-week high of $173.45.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.27). The business had revenue of $139.61 million during 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%. The business’s revenue was down 13.6% compared to the same quarter last year. During the same period last year, the company posted $1.40 earnings per share. Universal Display has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $1.80 dividend on an annualized basis and a yield of 1.6%. Universal Display’s payout ratio is presently 38.79%.

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.