Allianz Asset Management GmbH Makes New $279,000 Investment in 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 stake in Universal Display Corporation (NASDAQ:OLED - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,000 shares of the semiconductor company's stock, valued at approximately $279,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Universal Display by 5.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 139,646 shares of the semiconductor company's stock valued at $19,478,000 after acquiring an additional 6,604 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Universal Display by 44.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 286,320 shares of the semiconductor company's stock worth $39,936,000 after purchasing an additional 87,801 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Universal Display in the 1st quarter valued at about $242,000. DAVENPORT & Co LLC bought a new stake in shares of Universal Display during the 1st quarter worth approximately $377,000. Finally, GAMMA Investing LLC lifted its stake in Universal Display by 134.1% in the 1st quarter. GAMMA Investing LLC now owns 962 shares of the semiconductor company's stock valued at $134,000 after purchasing an additional 551 shares during the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OLED has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and issued a $170.00 price objective on shares of Universal Display in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $190.43.

Universal Display Price Performance

Shares of NASDAQ:OLED traded down $0.67 during midday trading on Thursday, reaching $138.33. 223,717 shares of the company's stock were exchanged, compared to its average volume of 666,031. The firm's 50 day simple moving average is $152.23 and its two-hundred day simple moving average is $144.99. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 1.50 and a beta of 1.47. Universal Display Corporation has a fifty-two week low of $103.70 and a fifty-two week high of $215.90.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.23. The firm had revenue of $171.79 million during 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%. The firm's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.10 earnings per share. Equities research analysts predict that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given 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 1.3%. Universal Display's dividend payout ratio is 35.16%.

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.