Raymond James Financial Inc. Acquires Shares of 283,882 Universal Display Co. (NASDAQ:OLED)

Raymond James Financial Inc. bought a new position in shares of Universal Display Co. (NASDAQ:OLED - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 283,882 shares of the semiconductor company's stock, valued at approximately $41,504,000. Raymond James Financial Inc. owned about 0.60% of Universal Display at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in shares of Universal Display by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company's stock worth $167,825,000 after purchasing an additional 15,015 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Universal Display by 58.2% in the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company's stock valued at $99,975,000 after purchasing an additional 251,557 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Universal Display by 10.7% in the 4th quarter. Bank of New York Mellon Corp now owns 437,592 shares of the semiconductor company's stock valued at $63,976,000 after acquiring an additional 42,218 shares during the period. Southpoint Capital Advisors LP increased its stake in shares of Universal Display by 46.0% during the third quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company's stock worth $76,614,000 after purchasing an additional 115,000 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Universal Display by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 341,019 shares of the semiconductor company's stock worth $49,857,000 after buying an additional 7,147 shares in the last quarter. Institutional investors own 78.19% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OLED. Needham & Company LLC reduced their target price on Universal Display from $215.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Citigroup reduced their price target on Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. Susquehanna cut their target price on Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. StockNews.com cut Universal Display from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Finally, Oppenheimer cut their price objective on Universal Display from $220.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, January 2nd. 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $190.43.

Universal Display Price Performance

Shares of Universal Display stock traded down $0.97 on Thursday, hitting $147.84. 347,445 shares of the company's stock traded hands, compared to its average volume of 738,797. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 31.79, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The company has a fifty day moving average of $149.01 and a two-hundred day moving average of $171.23. Universal Display Co. has a one year low of $140.17 and a one year high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) 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 company had revenue of $162.29 million for the quarter, compared to analysts' expectations of $152.75 million. Equities research analysts anticipate that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Monday, March 17th. This is a positive change from Universal Display's previous quarterly dividend of $0.40. Universal Display's payout ratio is 38.71%.

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.