Raymond James Financial Inc. Invests $41.50 Million in Universal Display Co. (NASDAQ:OLED)

Raymond James Financial Inc. acquired a new position in Universal Display Co. (NASDAQ:OLED - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 283,882 shares of the semiconductor company's stock, valued at approximately $41,504,000. Raymond James Financial Inc. owned 0.60% of Universal Display at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OLED. Brown Brothers Harriman & Co. raised its stake in shares of Universal Display by 280.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company's stock valued at $31,000 after buying an additional 154 shares during the last quarter. Blue Trust Inc. lifted its holdings in Universal Display by 401.9% in the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 209 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Universal Display in the 4th quarter worth approximately $40,000. Farther Finance Advisors LLC grew its stake in shares of Universal Display by 761.1% during the 4th quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company's stock worth $45,000 after purchasing an additional 274 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Universal Display by 185.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company's stock valued at $52,000 after purchasing an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company's stock.

Universal Display Stock Performance

Shares of NASDAQ:OLED traded down $2.90 during midday trading on Monday, hitting $111.08. The company's stock had a trading volume of 47,079 shares, compared to its average volume of 553,579. The company has a market cap of $5.27 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Universal Display Co. has a 12-month low of $103.70 and a 12-month high of $237.00. The business's 50 day simple moving average is $139.96 and its 200 day simple moving average is $157.52.

Universal Display (NASDAQ:OLED - Get Free Report) last released its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.14. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The business had revenue of $162.29 million for the quarter, compared to analyst estimates of $152.75 million. On average, sell-side analysts predict that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.45 dividend. The ex-dividend date was Monday, March 17th. This is an increase from Universal Display's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.62%. Universal Display's dividend payout ratio (DPR) is 38.71%.

Analysts Set New Price Targets

Several analysts recently commented on OLED shares. StockNews.com lowered shares of Universal Display from a "hold" rating to a "sell" rating in a research report on Friday, April 11th. Roth Mkm upped their price target on Universal Display from $207.00 to $213.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Susquehanna dropped their price objective on Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Oppenheimer reduced their target price on Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, January 2nd. Finally, Citigroup dropped their price target on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Universal Display presently has a consensus rating of "Moderate Buy" and an average price target of $190.43.

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.