Universal Display Co. (NASDAQ:OLED) Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP reduced its holdings in Universal Display Co. (NASDAQ:OLED) by 98.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,020 shares of the semiconductor company’s stock after selling 162,463 shares during the period. Westfield Capital Management Co. LP’s holdings in Universal Display were worth $634,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in OLED. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Universal Display during the second quarter worth $127,668,000. Citigroup Inc. lifted its position in shares of Universal Display by 1,387.6% in the third quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock valued at $54,936,000 after acquiring an additional 244,129 shares in the last quarter. Raymond James & Associates raised its stake in Universal Display by 629.9% in the 3rd quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock valued at $56,550,000 after purchasing an additional 232,503 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Universal Display by 66.6% in the 1st quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock valued at $73,099,000 after purchasing an additional 173,496 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Universal Display during the 2nd quarter worth $34,558,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Universal Display

In other news, Director Lawrence Lacerte purchased 742 shares of the stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the transaction, the director now directly owns 122,372 shares in the company, valued at approximately $22,135,871.08. This represents a 0.61 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on OLED. Roth Mkm raised their price target on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Susquehanna raised their target price on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Needham & Company LLC dropped their price target on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. TD Cowen reduced their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Oppenheimer dropped their target price on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Universal Display has an average rating of “Moderate Buy” and a consensus target price of $215.63.

Universal Display Stock Up 0.6 %

OLED stock opened at $169.34 on Tuesday. Universal Display Co. has a 52-week low of $148.75 and a 52-week high of $237.00. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 1.80 and a beta of 1.43. The business has a fifty day moving average of $194.63 and a two-hundred day moving average of $195.75.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.21. The firm had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. Universal Display’s revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 EPS. As a group, sell-side analysts anticipate that Universal Display Co. will post 4.8 EPS for the current year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. Universal Display’s payout ratio is currently 32.13%.

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.