Assenagon Asset Management S.A. Buys New Stake in Universal Display Corporation $OLED

Key Points

• Assenagon Asset Management S.A. acquired a new stake in Universal Display Corporation, purchasing 17,406 shares valued at approximately $2.69 million during the second quarter.
• Universal Display recently reported earnings of $1.41 per share, exceeding expectations, with revenues of $171.79 million for the quarter, an increase of 8.4% year-over-year.
• The company declared a quarterly dividend of $0.45 per share, with an annualized total of $1.80, yielding 1.2% based on its current dividend payout ratio of 35.16%.

Assenagon Asset Management S.A. purchased a new stake in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,406 shares of the semiconductor company's stock, valued at approximately $2,689,000.

A number of other institutional investors and hedge funds have also made changes to their positions in OLED. Two Sigma Advisers LP increased its stake in Universal Display by 91.3% during the fourth quarter. Two Sigma Advisers LP now owns 8,800 shares of the semiconductor company's stock worth $1,287,000 after acquiring an additional 4,200 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Universal Display in the 4th quarter worth approximately $1,193,000. Mackenzie Financial Corp bought a new position in shares of Universal Display during the 4th quarter valued at approximately $3,779,000. Jefferies Financial Group Inc. raised its holdings in Universal Display by 171.2% during the 4th quarter. Jefferies Financial Group Inc. now owns 3,206 shares of the semiconductor company's stock valued at $469,000 after buying an additional 2,024 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Universal Display by 36.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 133,042 shares of the semiconductor company's stock valued at $19,451,000 after buying an additional 35,849 shares during the period. 78.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut shares of Universal Display from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $190.43.

Universal Display Stock Down 0.4%

Shares of Universal Display stock opened at $146.31 on Friday. The stock's fifty day moving average is $142.70 and its two-hundred day moving average is $143.04. Universal Display Corporation has a 52 week low of $103.70 and a 52 week high of $214.57. The company has a market capitalization of $6.95 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 4.31 and a beta of 1.50.

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, topping the consensus estimate of $1.18 by $0.23. The business had revenue of $171.79 million during the quarter, compared to the consensus estimate of $161.58 million. Universal Display had a return on equity of 15.82% and a net margin of 36.95%.The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $1.10 earnings per share. Universal Display has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 1.2%. Universal Display's dividend payout ratio (DPR) is currently 35.16%.

Universal Display 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.

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