Baird Financial Group Inc. Acquires 6,832 Shares of Universal Display Corporation $OLED

Baird Financial Group Inc. grew its position in shares of Universal Display Corporation (NASDAQ:OLED) by 21.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,918 shares of the semiconductor company’s stock after buying an additional 6,832 shares during the quarter. Baird Financial Group Inc.’s holdings in Universal Display were worth $6,011,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of OLED. Rise Advisors LLC boosted its holdings in Universal Display by 87.9% in the first quarter. Rise Advisors LLC now owns 186 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Whittier Trust Co. bought a new position in shares of Universal Display in the 2nd quarter worth approximately $30,000. Parkside Financial Bank & Trust boosted its holdings in shares of Universal Display by 236.7% in the second quarter. Parkside Financial Bank & Trust now owns 202 shares of the semiconductor company’s stock worth $31,000 after buying an additional 142 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Universal Display during the second quarter valued at approximately $39,000. Finally, Brooklyn Investment Group increased its holdings in Universal Display by 98.5% during the first quarter. Brooklyn Investment Group now owns 270 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

Shares of NASDAQ:OLED opened at $121.49 on Wednesday. The firm has a market cap of $5.78 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 3.75 and a beta of 1.62. The firm has a fifty day moving average price of $132.82 and a 200 day moving average price of $142.25. Universal Display Corporation has a fifty-two week low of $103.70 and a fifty-two week high of $165.00.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.27). The firm had revenue of $139.61 million for the quarter, compared to analysts’ expectations of $165.56 million. Universal Display had a return on equity of 14.10% and a net margin of 34.65%.The firm’s revenue was down 13.6% on a year-over-year basis. During the same period last year, the company earned $1.40 earnings per share. As a group, research analysts predict that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, December 17th. Universal Display’s payout ratio is currently 38.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OLED. Weiss Ratings restated a “hold (c)” rating on shares of Universal Display in a research note on Wednesday, October 8th. Zacks Research downgraded Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Needham & Company LLC cut their price objective on Universal Display from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Universal Display presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.33.

Universal Display Company 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.