Allianz Asset Management GmbH Acquires Shares of 2,000 Universal Display Corporation (NASDAQ:OLED)

Key Points

• Allianz Asset Management GmbH has acquired 2,000 shares of Universal Display Corporation, valued at approximately $279,000, indicating the institutional interest in the stock.
• Universal Display's stock opened at $144.98, with a 1-year high of $215.90 and a low of $103.70, reflecting its volatility in the market.
• The company announced a quarterly dividend of $0.45 per share, set to be paid on September 30th, with a dividend yield of 1.2%.

Allianz Asset Management GmbH bought a new position in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,000 shares of the semiconductor company's stock, valued at approximately $279,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Orion Capital Management LLC purchased a new stake in Universal Display in the 4th quarter valued at approximately $29,000. Golden State Wealth Management LLC lifted its position in shares of Universal Display by 4,700.0% in the first quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 235 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Universal Display during the 4th quarter worth about $40,000. Global X Japan Co. Ltd. acquired a new position in shares of Universal Display in the first quarter valued at approximately $49,000. Finally, Transce3nd LLC acquired a new stake in Universal Display in the 4th quarter worth about $54,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Stock Performance

Shares of Universal Display stock opened at $144.98 on Monday. Universal Display Corporation has a 1 year low of $103.70 and a 1 year high of $215.90. The firm's 50-day simple moving average is $152.47 and its 200-day simple moving average is $145.11. The firm has a market cap of $6.89 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 1.57 and a beta of 1.47.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.23. The firm had revenue of $171.79 million for the quarter, compared to analysts' expectations of $161.58 million. Universal Display had a return on equity of 15.82% and a net margin of 36.95%. Universal Display's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 earnings per share. On average, equities analysts predict that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 1.2%. Universal Display's payout ratio is presently 35.16%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $170.00 price target on shares of Universal Display in a research 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Universal Display currently 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.

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