FengHe Fund Management Pte. Ltd. Invests $41.15 Million in Universal Display Corporation (NASDAQ:OLED)

Key Points

• FengHe Fund Management Pte. Ltd. recently acquired 295,000 shares of Universal Display Corporation (NASDAQ:OLED), making it the largest position in their portfolio, valued at approximately $41.1 million.
• Universal Display announced a quarterly dividend of $0.45 per share, with a pay date set for September 30, translating to a 1.3% yield for shareholders.
• The company's stock has a market capitalization of $6.68 billion and reported an EPS of $1.41 for the last quarter, exceeding analysts' expectations.

FengHe Fund Management Pte. Ltd. bought a new position in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 295,000 shares of the semiconductor company's stock, valued at approximately $41,147,000. Universal Display makes up 15.4% of FengHe Fund Management Pte. Ltd.'s portfolio, making the stock its largest position. FengHe Fund Management Pte. Ltd. owned about 0.62% of Universal Display as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OLED. Orion Capital Management LLC bought a new position in Universal Display during the 4th quarter worth about $29,000. Golden State Wealth Management LLC boosted its position in Universal Display by 4,700.0% during the 1st 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. Global X Japan Co. Ltd. purchased a new position in shares of Universal Display in the 1st quarter valued at $49,000. Transce3nd LLC purchased a new position in shares of Universal Display in the 4th quarter valued at $54,000. Finally, HM Payson & Co. raised its position in shares of Universal Display by 235.4% in the 1st quarter. HM Payson & Co. now owns 436 shares of the semiconductor company's stock worth $61,000 after acquiring an additional 306 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Down 1.5%

Shares of Universal Display stock traded down $2.11 during midday trading on Friday, hitting $141.47. The company had a trading volume of 494,156 shares, compared to its average volume of 661,911. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.55 and a beta of 1.47. The company has a fifty day simple moving average of $151.38 and a 200 day simple moving average of $144.61. Universal Display Corporation has a 12-month low of $103.70 and a 12-month high of $215.90.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.23. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The company had revenue of $171.79 million during the quarter, compared to analyst estimates of $161.58 million. During the same period last year, the firm posted $1.10 EPS. Universal Display's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, analysts expect that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Announces Dividend

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 given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.3%. Universal Display's dividend payout ratio (DPR) is currently 35.16%.

Wall Street Analysts Forecast Growth

OLED has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Universal Display from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. 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. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus 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.