Westfield Capital Management Co. LP Sells 18,151 Shares of Universal Display Co. (NASDAQ:OLED)

Westfield Capital Management Co. LP decreased its holdings in shares of Universal Display Co. (NASDAQ:OLEDFree Report) by 10.2% during the 4th quarter, Holdings Channel reports. The firm owned 159,153 shares of the semiconductor company’s stock after selling 18,151 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Universal Display were worth $30,440,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OLED. Benjamin F. Edwards & Company Inc. bought a new position in shares of Universal Display during the 4th quarter worth approximately $25,000. Orion Capital Management LLC bought a new stake in Universal Display in the third quarter valued at $31,000. Principal Securities Inc. acquired a new position in shares of Universal Display during the fourth quarter valued at about $34,000. Rise Advisors LLC bought a new position in shares of Universal Display during the 4th quarter worth about $57,000. Finally, SRS Capital Advisors Inc. grew its stake in shares of Universal Display by 282.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 310 shares of the semiconductor company’s stock valued at $59,000 after buying an additional 229 shares during the period. Institutional investors own 78.19% of the company’s stock.

Analysts Set New Price Targets

OLED has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $198.00 price target on shares of Universal Display in a research note on Friday, May 3rd. Oppenheimer restated an “outperform” rating and set a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Finally, TD Cowen increased their target price on Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $199.86.

Get Our Latest Analysis on OLED

Universal Display Price Performance

Shares of OLED stock traded up $2.23 during trading hours on Friday, reaching $176.59. The company had a trading volume of 266,853 shares, compared to its average volume of 299,558. The business has a fifty day simple moving average of $165.02 and a 200-day simple moving average of $171.84. Universal Display Co. has a 12 month low of $133.67 and a 12 month high of $194.84. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 38.39, a price-to-earnings-growth ratio of 1.91 and a beta of 1.44.

Universal Display (NASDAQ:OLEDGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.14. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The business had revenue of $165.26 million for the quarter, compared to analysts’ expectations of $150.75 million. During the same period last year, the business earned $0.83 EPS. The business’s revenue was up 26.7% on a year-over-year basis. On average, equities research analysts expect that Universal Display Co. will post 4.76 earnings per share for the current year.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, June 14th. Universal Display’s payout ratio is 34.78%.

Insider Buying and Selling at Universal Display

In other news, EVP Julia J. Brown sold 10,358 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total value of $1,812,650.00. Following the transaction, the executive vice president now owns 56,624 shares in the company, valued at approximately $9,909,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Universal Display news, EVP Julia J. Brown sold 10,358 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total value of $1,812,650.00. Following the transaction, the executive vice president now owns 56,624 shares of the company’s stock, valued at $9,909,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Mauro Premutico sold 8,202 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total value of $1,450,277.64. Following the sale, the senior vice president now directly owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Universal Display Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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