Westfield Capital Management Co. LP Cuts Holdings in Universal Display Co. (NASDAQ:OLED)

Westfield Capital Management Co. LP lowered its stake in Universal Display Co. (NASDAQ:OLED) by 98.2% during the third quarter, Holdings Channel.com reports. The firm owned 3,020 shares of the semiconductor company’s stock after selling 162,463 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Universal Display were worth $634,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Primecap Management Co. CA lifted its stake in Universal Display by 0.4% during the second quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock worth $398,427,000 after purchasing an additional 7,435 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Universal Display during the 2nd quarter worth approximately $127,668,000. Van ECK Associates Corp lifted its position in shares of Universal Display by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock worth $101,914,000 after buying an additional 108,394 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Universal Display by 27.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock valued at $98,725,000 after buying an additional 100,809 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of 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 buying an additional 173,496 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Universal Display

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

Universal Display Trading Up 0.6 %

NASDAQ:OLED opened at $169.34 on Tuesday. Universal Display Co. has a 12-month low of $148.75 and a 12-month high of $237.00. The stock’s 50 day simple moving average is $194.63 and its 200-day simple moving average is $195.75. The firm has a market cap of $8.04 billion, a P/E ratio of 34.00, a PEG ratio of 1.80 and a beta of 1.43.

Universal Display (NASDAQ:OLED) last announced 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. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The company had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. During the same period in the previous year, the company posted $1.08 EPS. Universal Display’s revenue was up 14.6% compared to the same quarter last year. Research analysts forecast that Universal Display Co. will post 4.8 EPS for the current fiscal year.

Universal Display Announces Dividend

The company 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 $0.40 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a yield of 0.94%. Universal Display’s payout ratio is currently 32.13%.

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.