Peregrine Investment Management Inc. Invests $7.66 Million in Universal Display Co. (NASDAQ:OLED)

Peregrine Investment Management Inc. acquired a new stake in shares of Universal Display Co. (NASDAQ:OLED - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 52,399 shares of the semiconductor company's stock, valued at approximately $7,661,000. Universal Display makes up about 4.4% of Peregrine Investment Management Inc.'s holdings, making the stock its 13th biggest position. Peregrine Investment Management Inc. owned about 0.11% of Universal Display as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in OLED. Jennison Associates LLC grew its holdings in Universal Display by 58.2% during the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company's stock valued at $99,975,000 after buying an additional 251,557 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Universal Display by 1,387.6% in the third quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company's stock valued at $54,936,000 after purchasing an additional 244,129 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Universal Display by 629.9% in the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company's stock valued at $56,550,000 after purchasing an additional 232,503 shares in the last quarter. Barclays PLC grew its holdings in shares of Universal Display by 753.8% in the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company's stock valued at $44,608,000 after purchasing an additional 187,627 shares in the last quarter. Finally, Southpoint Capital Advisors LP grew its holdings in shares of Universal Display by 46.0% in the third quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company's stock valued at $76,614,000 after purchasing an additional 115,000 shares in the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OLED. Citigroup cut their target price on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Needham & Company LLC reissued a "buy" rating and issued a $215.00 target price on shares of Universal Display in a report on Thursday, January 16th. The Goldman Sachs Group cut their target price on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a report on Thursday, February 6th. TD Cowen cut their target price on shares of Universal Display from $250.00 to $225.00 and set a "buy" rating for the company in a report on Thursday, October 31st. Finally, Oppenheimer dropped their price objective on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, January 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $199.57.

Universal Display Stock Performance

NASDAQ OLED traded up $1.60 on Wednesday, hitting $146.62. 553,991 shares of the stock were exchanged, compared to its average volume of 671,437. The stock has a fifty day moving average price of $149.09 and a two-hundred day moving average price of $174.20. The firm has a market capitalization of $6.96 billion, a P/E ratio of 29.44, a P/E/G ratio of 1.56 and a beta of 1.39. Universal Display Co. has a 52-week low of $140.17 and a 52-week high of $237.00.

Universal Display Company 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.