Baird Financial Group Inc. Reduces Position in Universal Display Co. (NASDAQ:OLED)

Baird Financial Group Inc. decreased its holdings in Universal Display Co. (NASDAQ:OLED) by 0.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 25,422 shares of the semiconductor company’s stock after selling 202 shares during the period. Baird Financial Group Inc.’s holdings in Universal Display were worth $3,717,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. CIBC Asset Management Inc grew its holdings in shares of Universal Display by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company’s stock worth $215,000 after acquiring an additional 73 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Universal Display by 5.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the semiconductor company’s stock valued at $245,000 after purchasing an additional 85 shares during the period. Arizona State Retirement System increased its position in shares of Universal Display by 0.7% during the 4th quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company’s stock valued at $1,910,000 after purchasing an additional 88 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Universal Display by 0.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company’s stock worth $1,475,000 after purchasing an additional 90 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of Universal Display by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the semiconductor company’s stock worth $1,798,000 after buying an additional 100 shares during the last quarter. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

Shares of NASDAQ:OLED opened at $143.75 on Friday. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 1.61 and a beta of 1.46. The firm has a fifty day moving average price of $134.59 and a 200 day moving average price of $150.12. Universal Display Co. has a fifty-two week low of $103.70 and a fifty-two week high of $237.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.07 by $0.28. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The business had revenue of $166.28 million during the quarter, compared to the consensus estimate of $154.76 million. During the same quarter in the prior year, the firm earned $1.19 EPS. The business’s revenue was up .6% on a year-over-year basis. As a group, research analysts predict that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Monday, June 16th. Universal Display’s payout ratio is 37.42%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OLED. Needham & Company LLC restated a “buy” rating and issued a $170.00 price objective on shares of Universal Display in a research note on Friday, May 2nd. Citigroup decreased their price objective on Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. The Goldman Sachs Group cut their price objective on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Roth Mkm raised their target price on shares of Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Susquehanna dropped their price target on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $190.43.

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.