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

Baird Financial Group Inc. boosted its stake in Universal Display Corporation (NASDAQ:OLED) by 21.3% in the second quarter, according to its most recent filing with the Securities and 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. owned approximately 0.08% of Universal Display worth $6,011,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC lifted its position in shares of Universal Display by 87.9% during the 1st quarter. Rise Advisors LLC now owns 186 shares of the semiconductor company’s stock worth $26,000 after buying an additional 87 shares in the last quarter. Whittier Trust Co. purchased a new position in Universal Display in the second quarter worth $30,000. Parkside Financial Bank & Trust increased its position in shares of Universal Display by 236.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 202 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 142 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in Universal Display in the second quarter valued at about $39,000. Finally, Brooklyn Investment Group lifted its stake in Universal Display by 98.5% in the first quarter. Brooklyn Investment Group now owns 270 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on OLED. Weiss Ratings reissued a “hold (c)” rating on shares of Universal Display in a report on Wednesday, October 8th. Needham & Company LLC lowered their price target on shares of Universal Display from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Finally, Zacks Research cut shares of Universal Display from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.33.

Universal Display Stock Performance

Shares of Universal Display stock opened at $121.49 on Wednesday. The company’s 50 day moving average price is $132.82 and its 200-day moving average price is $142.25. Universal Display Corporation has a 52-week low of $103.70 and a 52-week high of $165.00. The stock has a market capitalization 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.

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

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $1.80 annualized dividend and a yield of 1.5%. Universal Display’s dividend payout ratio is 38.79%.

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.