Kayne Anderson Rudnick Investment Management LLC increased its holdings in Universal Display Co. (NASDAQ:OLED - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,536,513 shares of the semiconductor company's stock after purchasing an additional 69,043 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 5.34% of Universal Display worth $370,838,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. boosted its position in shares of Universal Display by 280.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company's stock worth $31,000 after acquiring an additional 154 shares during the last quarter. Blue Trust Inc. boosted its position in Universal Display by 401.9% during the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 209 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Universal Display in the 4th quarter valued at $40,000. Farther Finance Advisors LLC raised its position in Universal Display by 761.1% in the fourth quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company's stock valued at $45,000 after purchasing an additional 274 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Universal Display by 185.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company's stock worth $52,000 after purchasing an additional 232 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.
Universal Display Trading Up 5.9 %
OLED traded up $6.97 during trading hours on Thursday, hitting $125.45. The company's stock had a trading volume of 561,544 shares, compared to its average volume of 558,579. Universal Display Co. has a fifty-two week low of $103.70 and a fifty-two week high of $237.00. The company has a 50-day simple moving average of $138.36 and a 200 day simple moving average of $156.29. The firm has a market capitalization of $5.95 billion, a PE ratio of 26.98, a PEG ratio of 1.61 and a beta of 1.42.
Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.14. The business had revenue of $162.29 million during the quarter, compared to analysts' expectations of $152.75 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. Research analysts expect that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.
Universal Display Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Universal Display's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.43%. Universal Display's payout ratio is 38.71%.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Oppenheimer lowered 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. Citigroup cut their target price on Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. The Goldman Sachs Group dropped their price target on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Susquehanna decreased their price objective on shares of Universal Display from $165.00 to $160.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Finally, Needham & Company LLC cut their target price on shares of Universal Display from $215.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $190.43.
Read Our Latest Analysis on Universal Display
About Universal Display
(
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.
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