Baird Financial Group Inc. Has $3.85 Million Position in Universal Display Co. (OLED)

Baird Financial Group Inc. boosted its position in shares of Universal Display Co. (NASDAQ:OLED) by 5.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,738 shares of the semiconductor company’s stock after purchasing an additional 2,321 shares during the quarter. Baird Financial Group Inc. owned 0.10% of Universal Display worth $3,848,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Epoch Investment Partners Inc. lifted its stake in Universal Display by 15.4% in the first quarter. Epoch Investment Partners Inc. now owns 3,440,323 shares of the semiconductor company’s stock valued at $347,473,000 after buying an additional 459,918 shares in the last quarter. BlackRock Inc. lifted its stake in Universal Display by 17.6% in the first quarter. BlackRock Inc. now owns 1,985,898 shares of the semiconductor company’s stock valued at $200,576,000 after buying an additional 297,565 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Universal Display by 8.0% in the second quarter. Wells Fargo & Company MN now owns 703,597 shares of the semiconductor company’s stock valued at $60,509,000 after buying an additional 52,030 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in Universal Display by 18.7% in the second quarter. Frontier Capital Management Co. LLC now owns 694,409 shares of the semiconductor company’s stock valued at $59,719,000 after buying an additional 109,468 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in Universal Display by 9.7% in the first quarter. Neuberger Berman Group LLC now owns 689,295 shares of the semiconductor company’s stock valued at $69,619,000 after buying an additional 60,931 shares in the last quarter. Hedge funds and other institutional investors own 72.59% of the company’s stock.

Shares of OLED stock opened at $120.80 on Friday. The firm has a market capitalization of $6.01 billion, a PE ratio of 49.71 and a beta of 1.74. Universal Display Co. has a 12 month low of $78.75 and a 12 month high of $209.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, August 9th. The semiconductor company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.08. The business had revenue of $56.15 million for the quarter, compared to analyst estimates of $49.64 million. Universal Display had a net margin of 22.76% and a return on equity of 11.59%. The firm’s revenue for the quarter was down 45.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share. research analysts forecast that Universal Display Co. will post 1.83 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Saturday, September 15th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend is Thursday, September 13th. Universal Display’s dividend payout ratio is presently 9.88%.

A number of research analysts have weighed in on OLED shares. ValuEngine raised shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. BidaskClub raised shares of Universal Display from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. Needham & Company LLC lifted their price target on shares of Universal Display from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Goldman Sachs Group set a $150.00 price target on shares of Universal Display and gave the company a “buy” rating in a research note on Tuesday, May 29th. Finally, Zacks Investment Research raised shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Saturday, August 11th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $172.82.

In other news, Director Lawrence Lacerte sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $119.51, for a total value of $1,792,650.00. Following the sale, the director now owns 348,950 shares of the company’s stock, valued at $41,703,014.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Mauro Premutico sold 10,044 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $123.63, for a total transaction of $1,241,739.72. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

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 flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.

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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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