Azzad Asset Management Inc. ADV Has $2.79 Million Stock Position in Universal Display Co. (NASDAQ:OLED)

Azzad Asset Management Inc. ADV raised its holdings in Universal Display Co. (NASDAQ:OLED) by 9.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 13,278 shares of the semiconductor company’s stock after acquiring an additional 1,091 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Universal Display were worth $2,787,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Universal Display during the second quarter worth $127,668,000. Janus Henderson Group PLC increased its position in shares of Universal Display by 66.6% during the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock worth $73,099,000 after buying an additional 173,496 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Universal Display during the second quarter worth $34,558,000. Strategic Financial Concepts LLC acquired a new stake in Universal Display in the second quarter worth $23,500,000. Finally, Dimensional Fund Advisors LP grew its holdings in Universal Display by 27.3% in the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock worth $98,725,000 after purchasing an additional 100,809 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Stock Down 1.0 %

NASDAQ OLED opened at $209.59 on Tuesday. The company’s 50 day moving average is $194.74 and its 200-day moving average is $189.31. Universal Display Co. has a 12-month low of $133.67 and a 12-month high of $237.00. The firm has a market cap of $9.94 billion, a P/E ratio of 45.56, a price-to-earnings-growth ratio of 2.22 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.04). Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The business had revenue of $158.50 million during the quarter, compared to the consensus estimate of $159.46 million. During the same period last year, the firm earned $1.04 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts expect that Universal Display Co. will post 4.81 EPS for the current year.

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Monday, September 16th. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OLED shares. TD Cowen raised their price target on shares of Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Susquehanna raised their price objective on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. The Goldman Sachs Group raised their price target on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Oppenheimer raised their price target on shares of Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Finally, Needham & Company LLC lifted their price objective on shares of Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Universal Display currently has an average rating of “Moderate Buy” and an average price target of $225.88.

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.