Principal Financial Group Inc. Acquires 5,284 Shares of Universal Display Co. (NASDAQ:OLED)

Principal Financial Group Inc. lifted its holdings in Universal Display Co. (NASDAQ:OLED) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 169,969 shares of the semiconductor company’s stock after acquiring an additional 5,284 shares during the period. Principal Financial Group Inc. owned approximately 0.36% of Universal Display worth $35,736,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Universal Display in the 4th quarter valued at about $25,000. ORG Partners LLC acquired a new stake in shares of Universal Display in the 1st quarter valued at about $27,000. Principal Securities Inc. acquired a new stake in shares of Universal Display in the 4th quarter valued at about $34,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Universal Display in the 4th quarter valued at about $35,000. Finally, Cape Investment Advisory Inc. grew its stake in shares of Universal Display by 1,977.8% in the 4th quarter. Cape Investment Advisory Inc. now owns 187 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 178 shares during the period. 78.19% of the stock is owned by institutional investors.

Universal Display Trading Up 1.5 %

NASDAQ:OLED opened at $193.72 on Friday. The stock has a market capitalization of $9.19 billion, a PE ratio of 42.11, a price-to-earnings-growth ratio of 2.04 and a beta of 1.42. The firm’s 50 day moving average is $203.78 and its 200 day moving average is $183.59. Universal Display Co. has a 12 month low of $133.67 and a 12 month high of $237.00.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). The company had revenue of $158.50 million during the quarter, compared to the consensus estimate of $159.46 million. Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $1.04 EPS. Research analysts predict that Universal Display Co. will post 4.81 earnings per share for the current year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.83%. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. The Goldman Sachs Group raised their target price on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Needham & Company LLC lifted their price target on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. TD Cowen lifted their price target on Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Susquehanna lifted their target price on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Oppenheimer lifted their target price on shares of Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.88.

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.