Westfield Capital Management Co. LP Has $30.44 Million Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Westfield Capital Management Co. LP decreased its stake in shares of Universal Display Co. (NASDAQ:OLED) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,153 shares of the semiconductor company’s stock after selling 18,151 shares during the period. Westfield Capital Management Co. LP owned 0.34% of Universal Display worth $30,440,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. lifted its position in shares of Universal Display by 6.4% during the fourth quarter. Vontobel Holding Ltd. now owns 309,804 shares of the semiconductor company’s stock worth $59,253,000 after purchasing an additional 18,582 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Universal Display by 18.3% during the 4th quarter. Van ECK Associates Corp now owns 270,184 shares of the semiconductor company’s stock worth $51,676,000 after buying an additional 41,795 shares in the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in Universal Display in the 4th quarter valued at $5,451,000. Linden Thomas Advisory Services LLC increased its stake in shares of Universal Display by 3.3% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 14,848 shares of the semiconductor company’s stock valued at $2,840,000 after buying an additional 469 shares during the period. Finally, Sei Investments Co. raised its position in shares of Universal Display by 54.5% during the third quarter. Sei Investments Co. now owns 80,538 shares of the semiconductor company’s stock worth $12,644,000 after acquiring an additional 28,415 shares during the last quarter. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

NASDAQ:OLED traded up $2.23 during trading hours on Friday, hitting $176.59. The stock had a trading volume of 266,853 shares, compared to its average volume of 299,558. The business’s 50 day moving average is $165.02 and its 200-day moving average is $171.84. The company has a market cap of $8.38 billion, a price-to-earnings ratio of 38.39, a P/E/G ratio of 1.91 and a beta of 1.44. Universal Display Co. has a one year low of $133.67 and a one year high of $194.84.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. The company had revenue of $165.26 million for the quarter, compared to analyst estimates of $150.75 million. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. Universal Display’s revenue was up 26.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. On average, sell-side analysts anticipate that Universal Display Co. will post 4.76 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. 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 dividend payout ratio (DPR) is presently 34.78%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OLED. Oppenheimer reiterated an “outperform” rating and issued a $200.00 price objective (down from $210.00) on shares of Universal Display in a research report on Friday, February 23rd. Needham & Company LLC reissued a “buy” rating and set a $198.00 price target on shares of Universal Display in a research note on Friday, May 3rd. Finally, TD Cowen raised their price objective on shares of Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $199.86.

Insider Buying and Selling at Universal Display

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

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.