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

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

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Universal Display in the 4th quarter valued at $95,924,000. Raymond James Financial Inc. acquired a new position in Universal Display in the fourth quarter valued at $41,504,000. Jennison Associates LLC lifted its position in Universal Display by 58.2% during the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company's stock worth $99,975,000 after buying an additional 251,557 shares during the period. Barclays PLC boosted its stake in Universal Display by 753.8% in the 3rd quarter. Barclays PLC now owns 212,518 shares of the semiconductor company's stock worth $44,608,000 after buying an additional 187,627 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Universal Display by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company's stock valued at $131,806,000 after buying an additional 101,963 shares during the period. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Up 0.1 %

Shares of NASDAQ OLED traded up $0.13 on Friday, hitting $125.58. The company had a trading volume of 143,411 shares, compared to its average volume of 558,372. Universal Display Co. has a 12-month low of $103.70 and a 12-month high of $237.00. The firm has a market capitalization of $5.96 billion, a P/E ratio of 27.01, a PEG ratio of 1.61 and a beta of 1.42. The business has a 50 day moving average of $138.02 and a two-hundred day moving average of $155.71.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.14. The firm had revenue of $162.29 million during the quarter, compared to analysts' expectations of $152.75 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. On average, sell-side analysts anticipate that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Universal Display's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.43%. Universal Display's dividend payout ratio (DPR) is currently 38.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on OLED shares. The Goldman Sachs Group decreased their target price on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC lowered their price objective on shares of Universal Display from $215.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Susquehanna cut their target price on Universal Display from $165.00 to $160.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Citigroup reduced their target price on Universal Display from $200.00 to $162.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. Finally, StockNews.com lowered Universal Display from a "hold" rating to a "sell" rating in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $190.43.

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.