Universal Display Co. (NASDAQ:OLED) Position Increased by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,536,513 shares of the semiconductor company's stock after acquiring an additional 69,043 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 5.34% of Universal Display worth $370,838,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. CIBC Asset Management Inc boosted its stake in shares of Universal Display by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company's stock valued at $215,000 after buying an additional 73 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of Universal Display by 5.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the semiconductor company's stock worth $245,000 after purchasing an additional 85 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Universal Display by 0.7% in the fourth quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company's stock worth $1,910,000 after acquiring an additional 88 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Universal Display by 0.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company's stock worth $1,475,000 after buying an additional 90 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of Universal Display by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the semiconductor company's stock valued at $1,798,000 after buying an additional 100 shares during the period. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Performance

OLED traded down $3.78 during midday trading on Friday, hitting $141.66. The stock had a trading volume of 191,521 shares, compared to its average volume of 592,672. Universal Display Co. has a 1 year low of $103.70 and a 1 year high of $237.00. The company has a market cap of $6.73 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46. The business has a fifty day moving average of $133.66 and a 200 day moving average of $146.47.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.28. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The company had revenue of $166.28 million during the quarter, compared to analysts' expectations of $154.76 million. During the same period last year, the company posted $1.19 EPS. Universal Display's revenue was up .6% on a year-over-year basis. On average, equities research analysts anticipate that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Monday, June 16th. Universal Display's dividend payout ratio (DPR) is currently 37.42%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OLED shares. Roth Mkm upped their price target on shares of Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a report on Friday, February 21st. Needham & Company LLC restated a "buy" rating and set a $170.00 price objective on shares of Universal Display in a research report on Friday, May 2nd. Citigroup lowered their price objective 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. Susquehanna cut their price target on Universal Display from $165.00 to $160.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Finally, The Goldman Sachs Group dropped their price objective on Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $190.43.

About Universal Display

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.