Kayne Anderson Rudnick Investment Management LLC Acquires 1,871,333 Shares of Universal Display Corporation $OLED

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its position in Universal Display Corporation by 73.8%, owning 4.4 million shares valued at approximately $614.8 million, making it the fund's 15th largest holding.
• Universal Display reported an earnings per share (EPS) of $1.41 for the last quarter, surpassing analysts' estimates by $0.23, and its revenue increased by 8.4% year-over-year to $171.79 million.
• The company announced a quarterly dividend of $0.45, with an annualized dividend yield of 1.2%, reflecting a payout ratio of 35.16%.

Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 73.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,407,846 shares of the semiconductor company's stock after purchasing an additional 1,871,333 shares during the period. Universal Display accounts for approximately 1.5% of Kayne Anderson Rudnick Investment Management LLC's holdings, making the stock its 15th biggest position. Kayne Anderson Rudnick Investment Management LLC owned 9.27% of Universal Display worth $614,806,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in OLED. Wealth Enhancement Advisory Services LLC lifted its stake in 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 purchasing an additional 6,604 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Universal Display by 44.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 286,320 shares of the semiconductor company's stock valued at $39,936,000 after acquiring an additional 87,801 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Universal Display during the 1st quarter worth approximately $242,000. DAVENPORT & Co LLC acquired a new stake in shares of Universal Display in the 1st quarter valued at $377,000. Finally, GAMMA Investing LLC grew its position in Universal Display by 134.1% during the 1st quarter. GAMMA Investing LLC now owns 962 shares of the semiconductor company's stock worth $134,000 after purchasing an additional 551 shares during the last quarter. Institutional investors own 78.19% of the company's stock.

Wall Street Analyst Weigh In

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

Universal Display Trading Down 1.9%

NASDAQ OLED traded down $2.72 during trading on Friday, reaching $138.51. The company's stock had a trading volume of 93,865 shares, compared to its average volume of 648,276. The stock has a market capitalization of $6.58 billion, a PE ratio of 27.06, a PEG ratio of 4.14 and a beta of 1.47. The business has a 50-day moving average price of $148.62 and a 200-day moving average price of $144.35. Universal Display Corporation has a 1-year low of $103.70 and a 1-year high of $215.90.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.23. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The firm had revenue of $171.79 million during the quarter, compared to analysts' expectations of $161.58 million. During the same period in the previous year, the company earned $1.10 earnings per share. The company'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, analysts expect that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Dividend Announcement

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

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.