Raymond James & Associates Has $56.55 Million Position in Universal Display Co. (NASDAQ:OLED)

Raymond James & Associates raised its holdings in Universal Display Co. (NASDAQ:OLED) by 629.9% during the third quarter, HoldingsChannel reports. The firm owned 269,414 shares of the semiconductor company’s stock after acquiring an additional 232,503 shares during the quarter. Raymond James & Associates’ holdings in Universal Display were worth $56,550,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of OLED. Slow Capital Inc. boosted its stake in shares of Universal Display by 4.7% in the 3rd quarter. Slow Capital Inc. now owns 23,351 shares of the semiconductor company’s stock valued at $4,901,000 after purchasing an additional 1,053 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Universal Display during the 3rd quarter worth approximately $31,000. Cardinal Capital Management increased its position in Universal Display by 7.6% in the 3rd quarter. Cardinal Capital Management now owns 9,237 shares of the semiconductor company’s stock valued at $1,939,000 after acquiring an additional 649 shares during the period. Heritage Family Offices LLP bought a new position in shares of Universal Display during the third quarter valued at $408,000. Finally, Vontobel Holding Ltd. increased its holdings in Universal Display by 1.8% in the third quarter. Vontobel Holding Ltd. now owns 167,347 shares of the semiconductor company’s stock valued at $35,126,000 after purchasing an additional 2,885 shares during the period. Institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

NASDAQ OLED opened at $204.52 on Tuesday. The company has a fifty day moving average price of $198.71 and a 200-day moving average price of $191.81. Universal Display Co. has a 1 year low of $133.67 and a 1 year high of $237.00. The firm has a market cap of $9.70 billion, a price-to-earnings ratio of 43.89, a PEG ratio of 2.18 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The business had revenue of $158.50 million during the quarter, compared to analysts’ expectations of $159.46 million. During the same period in the prior year, the firm posted $1.04 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, research analysts anticipate that Universal Display Co. will post 4.81 EPS for the current fiscal year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Monday, September 16th. Universal Display’s payout ratio is 34.33%.

Analysts Set New Price Targets

A number of research firms have commented on OLED. Oppenheimer upped their price target on Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Roth Mkm lifted their price objective on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Needham & Company LLC upped their target price on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Susquehanna lifted their price objective on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group lifted their price target on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Universal Display currently has an average rating of “Moderate Buy” and an average price target of $225.88.

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.