Aigen Investment Management LP Acquires Shares of 2,068 Universal Display Corporation $OLED

Key Points

• Aigen Investment Management LP has acquired a new stake in Universal Display Corporation, purchasing 2,068 shares valued at approximately $288,000.
• Universal Display recently reported earnings of $1.41 per share for the last quarter, exceeding analysts' expectations, and has announced a quarterly dividend of $0.45 per share.
• The company currently maintains a consensus rating of "Moderate Buy" with a target price of $190.43, according to recent analyst upgrades.

Aigen Investment Management LP acquired a new position in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,068 shares of the semiconductor company's stock, valued at approximately $288,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brown Advisory Inc. acquired a new stake in shares of Universal Display during the first quarter worth about $72,327,000. Raymond James Financial Inc. bought a new stake in shares of Universal Display during the fourth quarter worth $41,504,000. Point72 Asset Management L.P. acquired a new stake in shares of Universal Display during the fourth quarter worth $38,981,000. Janus Henderson Group PLC lifted its position in Universal Display by 41.5% in the 4th quarter. Janus Henderson Group PLC now owns 551,673 shares of the semiconductor company's stock valued at $80,674,000 after acquiring an additional 161,782 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Universal Display in the 4th quarter valued at $20,952,000. 78.19% of the stock is currently owned by institutional investors.

Universal Display Trading Up 0.7%

Shares of NASDAQ OLED traded up $1.02 during mid-day trading on Monday, hitting $142.49. The company had a trading volume of 68,573 shares, compared to its average volume of 658,078. The firm has a 50-day simple moving average of $151.19 and a two-hundred day simple moving average of $144.53. The company has a market capitalization of $6.77 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. Universal Display Corporation has a one year low of $103.70 and a one year high of $215.90.

Universal Display (NASDAQ:OLED - Get Free Report) last released its earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.23. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The business had revenue of $171.79 million during the quarter, compared to analysts' expectations of $161.58 million. During the same period last year, the business earned $1.10 earnings per share. The firm's revenue was up 8.4% on a year-over-year basis. Sell-side analysts expect that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 1.3%. Universal Display's dividend payout ratio (DPR) is currently 35.16%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OLED. Needham & Company LLC reiterated a "buy" rating and set a $170.00 target price on shares of Universal Display in a report on Friday, May 2nd. Wall Street Zen upgraded Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Universal Display currently has an average rating of "Moderate Buy" and a consensus price target 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.