Janney Montgomery Scott LLC reduced its position in Universal Display Co. (NASDAQ:OLED - Free Report) by 8.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 37,466 shares of the semiconductor company's stock after selling 3,523 shares during the period. Janney Montgomery Scott LLC owned about 0.08% of Universal Display worth $5,478,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Glenmede Trust Co. NA boosted its holdings in Universal Display by 1.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company's stock valued at $1,269,000 after purchasing an additional 97 shares during the period. BNP Paribas Financial Markets boosted its stake in Universal Display by 8.8% in the third quarter. BNP Paribas Financial Markets now owns 52,713 shares of the semiconductor company's stock valued at $11,064,000 after buying an additional 4,269 shares in the last quarter. Montanaro Asset Management Ltd boosted its stake in shares of Universal Display by 217.4% in the 3rd quarter. Montanaro Asset Management Ltd now owns 63,260 shares of the semiconductor company's stock valued at $13,278,000 after purchasing an additional 43,330 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Universal Display by 385.2% during the third quarter. Cerity Partners LLC now owns 8,588 shares of the semiconductor company's stock worth $1,803,000 after buying an additional 6,818 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Universal Display by 200.0% during the third quarter. Stifel Financial Corp now owns 120,234 shares of the semiconductor company's stock worth $25,237,000 after buying an additional 80,162 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on OLED. Oppenheimer reduced their price objective on Universal Display from $220.00 to $200.00 and set an "outperform" rating on the stock in a research report on Thursday, January 2nd. TD Cowen reduced their price objective on shares of Universal Display from $250.00 to $225.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $215.00 price objective on shares of Universal Display in a research report on Thursday, January 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Universal Display presently has a consensus rating of "Moderate Buy" and an average target price of $212.50.
Check Out Our Latest Report on Universal Display
Universal Display Stock Performance
NASDAQ OLED traded up $5.16 on Thursday, hitting $151.37. 605,997 shares of the stock traded hands, compared to its average volume of 728,868. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of 30.40, a PEG ratio of 1.62 and a beta of 1.40. The business's fifty day moving average is $154.03 and its two-hundred day moving average is $182.01. Universal Display Co. has a 12 month low of $142.50 and a 12 month high of $237.00.
Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.21. The company had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The firm's revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 EPS. Analysts expect that Universal Display Co. will post 4.77 EPS for the current fiscal year.
Insider Activity at Universal Display
In other news, Director Lawrence Lacerte purchased 742 shares of the firm's stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of $180.89 per share, with a total value of $134,220.38. Following the completion of the acquisition, the director now owns 122,372 shares in the company, valued at $22,135,871.08. This trade represents a 0.61 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.
Universal Display Company Profile
(
Free Report)
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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