Raymond James Financial Inc. Acquires 182,730 Shares of Universal Display Corporation $OLED

Key Points

• Raymond James Financial Inc. increased its stake in Universal Display Corporation (NASDAQ:OLED) by 64.4%, acquiring an additional 182,730 shares and boosting their total holdings to 466,612 shares valued at approximately $65 million.
• Universal Display recently reported quarterly earnings of $1.41 EPS, exceeding analysts' expectations of $1.18 EPS, and achieved a revenue of $171.79 million, up 8.4% from the previous year.
• The company also declared a quarterly dividend of $0.45 per share, with a dividend yield of 1.3%, indicating a solid payout ratio of 35.16%.

Raymond James Financial Inc. increased its stake in Universal Display Corporation (NASDAQ:OLED - Free Report) by 64.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 466,612 shares of the semiconductor company's stock after acquiring an additional 182,730 shares during the quarter. Raymond James Financial Inc. owned about 0.98% of Universal Display worth $65,083,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Universal Display by 5.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 139,646 shares of the semiconductor company's stock worth $19,478,000 after acquiring an additional 6,604 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Universal Display by 44.2% in the first quarter. Envestnet Asset Management Inc. now owns 286,320 shares of the semiconductor company's stock worth $39,936,000 after acquiring an additional 87,801 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Universal Display in the first quarter worth approximately $242,000. DAVENPORT & Co LLC acquired a new position in shares of Universal Display in the first quarter worth approximately $377,000. Finally, GAMMA Investing LLC lifted its stake in shares of Universal Display by 134.1% in the first quarter. GAMMA Investing LLC now owns 962 shares of the semiconductor company's stock worth $134,000 after acquiring an additional 551 shares during the period. 78.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on OLED shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $170.00 price objective on shares of Universal Display in a research note on Friday, May 2nd. Zacks Research lowered Universal Display from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Wall Street Zen raised Universal Display from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $190.43.

Universal Display Stock Performance

Shares of NASDAQ OLED traded up $0.62 during midday trading on Tuesday, hitting $143.55. 899,323 shares of the stock traded hands, compared to its average volume of 554,030. The company has a market cap of $6.82 billion, a PE ratio of 28.04, a P/E/G ratio of 4.19 and a beta of 1.47. Universal Display Corporation has a one year low of $103.70 and a one year high of $215.90. The business has a 50 day moving average price of $149.11 and a two-hundred day moving average price of $144.38.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.23. Universal Display had a return on equity of 15.82% and a net margin of 36.95%.The business had revenue of $171.79 million during the quarter, compared to the consensus estimate of $161.58 million. During the same quarter in the prior year, the company posted $1.10 earnings per share. Universal Display's revenue was up 8.4% compared to the same quarter last year. Universal Display has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 1.3%. Universal Display's dividend payout ratio is 35.16%.

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.