Raymond James Financial Inc. Takes $41.50 Million Position in Universal Display Co. (NASDAQ:OLED)

Raymond James Financial Inc. acquired a new stake in Universal Display Co. (NASDAQ:OLED) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 283,882 shares of the semiconductor company’s stock, valued at approximately $41,504,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its position in Universal Display by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company’s stock worth $167,825,000 after acquiring an additional 15,015 shares in the last quarter. Jennison Associates LLC lifted its position in Universal Display by 58.2% during the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock worth $99,975,000 after acquiring an additional 251,557 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Universal Display by 10.7% during the 4th quarter. Bank of New York Mellon Corp now owns 437,592 shares of the semiconductor company’s stock worth $63,976,000 after acquiring an additional 42,218 shares in the last quarter. Southpoint Capital Advisors LP lifted its position in Universal Display by 46.0% during the 3rd quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock worth $76,614,000 after acquiring an additional 115,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Universal Display by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 341,019 shares of the semiconductor company’s stock worth $49,857,000 after acquiring an additional 7,147 shares in the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OLED. Susquehanna dropped their price objective on Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Roth Mkm lifted their price objective on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a report on Friday, February 21st. StockNews.com downgraded Universal Display from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Needham & Company LLC dropped their price objective on Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock 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 report on Thursday, February 6th. One equities research 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’s stock. According to MarketBeat.com, Universal Display has a consensus rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Trading Down 0.6 %

Shares of NASDAQ OLED opened at $148.81 on Thursday. Universal Display Co. has a twelve month low of $140.17 and a twelve month high of $237.00. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The business has a 50 day simple moving average of $149.01 and a 200-day simple moving average of $171.23.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 EPS 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 the consensus estimate of $152.75 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. As a group, equities analysts predict that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.45 per share. This is an increase from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Monday, March 17th. Universal Display’s dividend payout ratio is presently 38.71%.

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.