Principal Financial Group Inc. Lowers Holdings in Universal Display Co. (NASDAQ:OLED)

Principal Financial Group Inc. trimmed its holdings in Universal Display Co. (NASDAQ:OLED) by 19.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 102,208 shares of the semiconductor company’s stock after selling 24,520 shares during the period. Principal Financial Group Inc.’s holdings in Universal Display were worth $14,943,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Sheaff Brock Investment Advisors LLC grew its position in Universal Display by 11.5% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 1,450 shares of the semiconductor company’s stock worth $212,000 after acquiring an additional 150 shares during the period. Strategic Financial Concepts LLC purchased a new position in Universal Display in the fourth quarter worth approximately $11,123,000. Peregrine Investment Management Inc. purchased a new position in Universal Display in the fourth quarter worth approximately $7,661,000. Rhumbline Advisers grew its position in Universal Display by 1.5% in the fourth quarter. Rhumbline Advisers now owns 158,618 shares of the semiconductor company’s stock worth $23,190,000 after acquiring an additional 2,387 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Universal Display by 401.9% during the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock worth $38,000 after buying an additional 209 shares during the period. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Trading Up 2.7 %

Shares of NASDAQ OLED opened at $161.59 on Thursday. The stock has a market cap of $7.67 billion, a P/E ratio of 34.75, a PEG ratio of 1.61 and a beta of 1.39. Universal Display Co. has a 12-month low of $140.17 and a 12-month high of $237.00. The business’s fifty day simple moving average is $148.67 and its 200-day simple moving average is $173.67.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The business had revenue of $162.29 million for the quarter, compared to analysts’ expectations of $152.75 million. On average, equities analysts forecast that Universal Display Co. will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.11%. Universal Display’s dividend payout ratio (DPR) is currently 38.71%.

Wall Street Analysts Forecast Growth

OLED has been the subject of several research analyst reports. Oppenheimer lowered their price target on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, January 2nd. Susquehanna lowered their price target on Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. The Goldman Sachs Group lowered their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Roth Mkm raised their price target on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, TD Cowen lowered their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Universal Display currently has an average 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.