Baird Financial Group Inc. Raises Holdings in Universal Display Corporation $OLED

Key Points

• Baird Financial Group Inc. increased its stake in Universal Display Corporation by 26.2%, now holding approximately $4.48 million worth of shares.
• Universal Display's quarterly earnings surpassed analysts' expectations, reporting $1.41 per share and $171.79 million in revenue, marking an 8.4% year-over-year increase.
• A recently announced quarterly dividend of $0.45 per share reflects a 1.2% yield, with the payout ratio at 35.16%.

Baird Financial Group Inc. raised its holdings in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 26.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,086 shares of the semiconductor company's stock after acquiring an additional 6,664 shares during the quarter. Baird Financial Group Inc. owned approximately 0.07% of Universal Display worth $4,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of OLED. Orion Capital Management LLC bought a new position in Universal Display in the 4th quarter worth $29,000. Golden State Wealth Management LLC increased its position in Universal Display by 4,700.0% in the first quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company's stock worth $33,000 after buying an additional 235 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of Universal Display by 98.5% in the first quarter. Brooklyn Investment Group now owns 270 shares of the semiconductor company's stock worth $38,000 after buying an additional 134 shares during the period. Global X Japan Co. Ltd. bought a new position in shares of Universal Display in the first quarter worth about $49,000. Finally, SVB Wealth LLC purchased a new position in shares of Universal Display during the 1st quarter valued at about $50,000. Institutional investors own 78.19% of the company's stock.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of Universal Display from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $190.43.

Universal Display Price Performance

Shares of NASDAQ OLED traded down $2.60 during mid-day trading on Wednesday, reaching $137.16. The company's stock had a trading volume of 662,666 shares, compared to its average volume of 515,478. Universal Display Corporation has a 52 week low of $103.70 and a 52 week high of $215.90. The stock has a fifty day moving average of $145.95 and a two-hundred day moving average of $144.05. The firm has a market capitalization of $6.52 billion, a PE ratio of 26.79, a P/E/G ratio of 4.10 and a beta of 1.50.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, beating 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 company had revenue of $171.79 million for the quarter, compared to the consensus estimate of $161.58 million. During the same quarter last year, the company earned $1.10 EPS. The firm's quarterly revenue was up 8.4% on a year-over-year basis. Universal Display has set its FY 2025 guidance at EPS. Analysts anticipate that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Announces Dividend

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 is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.3%. Universal Display's dividend payout ratio is currently 35.16%.

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.