Kayne Anderson Rudnick Investment Management LLC Buys 69,043 Shares of Universal Display Co. (NASDAQ:OLED)

Kayne Anderson Rudnick Investment Management LLC raised its position in Universal Display Co. (NASDAQ:OLED - Free Report) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,536,513 shares of the semiconductor company's stock after purchasing an additional 69,043 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 5.34% of Universal Display worth $370,838,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in OLED. CIBC Asset Management Inc increased its stake in shares of Universal Display by 5.2% in the fourth 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 increased its stake in shares of Universal Display by 5.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the semiconductor company's stock valued at $245,000 after buying an additional 85 shares during the period. Arizona State Retirement System increased its stake 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 valued at $1,910,000 after buying an additional 88 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Universal Display by 0.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company's stock valued at $1,475,000 after buying an additional 90 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in shares of Universal Display by 0.8% in the fourth 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 owned by institutional investors and hedge funds.

Universal Display Stock Performance

Universal Display stock traded down $2.72 during mid-day trading on Wednesday, reaching $144.23. The stock had a trading volume of 333,369 shares, compared to its average volume of 593,662. Universal Display Co. has a fifty-two week low of $103.70 and a fifty-two week high of $237.00. The stock's 50-day simple moving average is $133.91 and its 200-day simple moving average is $146.69. The firm has a market capitalization of $6.85 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 1.61 and a beta of 1.46.

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

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.25%. Universal Display's dividend payout ratio is presently 37.42%.

Wall Street Analyst Weigh In

OLED has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their target price on 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 target price on Universal Display from $165.00 to $160.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $170.00 target price on shares of Universal Display in a research note on Friday, May 2nd. Citigroup decreased their target price on Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. Finally, Wall Street Zen raised Universal Display from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.