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

Principal Financial Group Inc. boosted its stake in Universal Display Co. (NASDAQ:OLED) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 169,969 shares of the semiconductor company’s stock after purchasing an additional 5,284 shares during the period. Principal Financial Group Inc.’s holdings in Universal Display were worth $35,736,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. bought a new stake in Universal Display in the 4th quarter worth approximately $25,000. ORG Partners LLC purchased a new position in shares of Universal Display during the 1st quarter worth $27,000. Principal Securities Inc. purchased a new position in shares of Universal Display during the 4th quarter worth $34,000. Tsfg LLC purchased a new position in shares of Universal Display during the 1st quarter worth $34,000. Finally, University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Universal Display during the 4th quarter worth $35,000. Institutional investors own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Oppenheimer lifted their price target on shares of Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. Needham & Company LLC lifted their price target on shares of Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. TD Cowen lifted their price target on shares of Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Roth Mkm lifted 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. Finally, The Goldman Sachs Group lifted their target price on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.88.

Universal Display Stock Performance

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

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

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Monday, September 16th. Universal Display’s payout ratio is currently 34.78%.

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.