Swedbank AB Trims Stock Position in Universal Display Co. (NASDAQ:OLED)

Swedbank AB reduced its stake in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 66.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,805 shares of the semiconductor company's stock after selling 3,559 shares during the period. Swedbank AB's holdings in Universal Display were worth $264,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its position in Universal Display by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company's stock worth $167,825,000 after acquiring an additional 15,015 shares during the last quarter. Van ECK Associates Corp lifted its position in Universal Display by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company's stock valued at $101,914,000 after acquiring an additional 108,394 shares during the period. Southpoint Capital Advisors LP increased its stake in shares of Universal Display by 46.0% during 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. Charles Schwab Investment Management Inc. lifted its holdings in shares of Universal Display by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 333,872 shares of the semiconductor company's stock valued at $70,080,000 after purchasing an additional 10,046 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Universal Display by 5.6% in the 3rd quarter. Wellington Management Group LLP now owns 275,595 shares of the semiconductor company's stock worth $57,847,000 after purchasing an additional 14,726 shares in the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Down 1.1 %

OLED traded down $1.62 during trading on Thursday, reaching $144.08. The company had a trading volume of 803,397 shares, compared to its average volume of 714,984. Universal Display Co. has a 52 week low of $141.56 and a 52 week high of $237.00. The stock has a market cap of $6.84 billion, a P/E ratio of 28.93, a PEG ratio of 1.64 and a beta of 1.39. The business has a 50 day simple moving average of $151.86 and a 200-day simple moving average of $178.99.

Analyst Ratings Changes

Several brokerages have recently issued reports on OLED. Oppenheimer dropped their target price on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, January 2nd. The Goldman Sachs Group cut their price target on Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a research note on Thursday. Needham & Company LLC reiterated a "buy" rating and issued a $215.00 price target on shares of Universal Display in a research report on Thursday, January 16th. Finally, TD Cowen decreased their target price on Universal Display from $250.00 to $225.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $205.83.

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.