Raymond James Trust N.A. Takes $207,000 Position in Universal Display Co. (NASDAQ:OLED)

Raymond James Trust N.A. bought a new position in shares of Universal Display Co. (NASDAQ:OLED) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 984 shares of the semiconductor company’s stock, valued at approximately $207,000.

A number of other hedge funds have also made changes to their positions in OLED. Price T Rowe Associates Inc. MD raised its holdings in Universal Display by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,867 shares of the semiconductor company’s stock valued at $3,852,000 after acquiring an additional 616 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Universal Display during the 1st quarter valued at about $620,000. Tidal Investments LLC grew its holdings in shares of Universal Display by 172.0% in the first quarter. Tidal Investments LLC now owns 6,246 shares of the semiconductor company’s stock valued at $1,052,000 after purchasing an additional 3,950 shares in the last quarter. Swedbank AB purchased a new stake in Universal Display during the 1st quarter worth approximately $1,995,000. Finally, Red Spruce Capital LLC lifted its holdings in Universal Display by 0.7% during the 2nd quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock worth $2,343,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Analyst Upgrades and Downgrades

OLED has been the subject of several research reports. Oppenheimer dropped their price target on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Needham & Company LLC lowered their target price on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Susquehanna raised their target price on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Roth Mkm boosted their price objective on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, TD Cowen decreased their target price on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $215.63.

Insiders Place Their Bets

In related news, Director Lawrence Lacerte purchased 742 shares of the stock in a transaction dated Monday, November 4th. The shares were acquired at an average cost of $180.89 per share, with a total value of $134,220.38. Following the purchase, the director now directly owns 122,372 shares in the company, valued at $22,135,871.08. This trade represents a 0.61 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by company insiders.

Universal Display Stock Performance

OLED stock opened at $161.17 on Friday. Universal Display Co. has a one year low of $148.75 and a one year high of $237.00. The company has a fifty day moving average of $192.90 and a 200-day moving average of $195.44. The stock has a market capitalization of $7.65 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 1.81 and a beta of 1.43.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.21. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. During the same quarter last year, the firm earned $1.08 earnings per share. The firm’s revenue was up 14.6% compared to the same quarter last year. Equities analysts forecast that Universal Display Co. will post 4.8 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Tuesday, December 17th. Universal Display’s dividend payout ratio is presently 32.13%.

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.