Kayne Anderson Rudnick Investment Management LLC Has $370.84 Million Stock Holdings in Universal Display Co. (NASDAQ:OLED)

Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 2.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,536,513 shares of the semiconductor company’s stock after buying an additional 69,043 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.05% of Universal Display worth $370,838,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new stake in shares of Universal Display in the fourth quarter worth about $95,924,000. Raymond James Financial Inc. bought a new position in shares of Universal Display in the fourth quarter valued at approximately $41,504,000. Jennison Associates LLC lifted its stake in shares of Universal Display by 58.2% in 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 last quarter. Barclays PLC lifted its stake in shares of Universal Display by 753.8% in the third 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 stake 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 last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Trading Up 0.3 %

Shares of NASDAQ OLED opened at $113.98 on Friday. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.61 and a beta of 1.42. Universal Display Co. has a one year low of $103.70 and a one year high of $237.00. The business has a fifty day simple moving average of $139.96 and a 200 day simple moving average of $157.88.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. The company had revenue of $162.29 million during the quarter, compared to analysts’ expectations of $152.75 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. On average, research analysts anticipate that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.58%. This is an increase from Universal Display’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, March 17th. Universal Display’s payout ratio is presently 38.71%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OLED. Susquehanna cut their target price on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. 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. The Goldman Sachs Group dropped their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. StockNews.com cut Universal Display from a “hold” rating to a “sell” rating in a research report on Friday, April 11th. Finally, Oppenheimer dropped their target price on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average 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.