Van ECK Associates Corp Sells 5,951 Shares of Universal Display Co. (NASDAQ:OLED)

Van ECK Associates Corp decreased its stake in Universal Display Co. (NASDAQ:OLED - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 501,489 shares of the semiconductor company's stock after selling 5,951 shares during the period. Van ECK Associates Corp owned 1.06% of Universal Display worth $73,318,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. CWM LLC increased its holdings in shares of Universal Display by 390.9% in the 3rd quarter. CWM LLC now owns 5,586 shares of the semiconductor company's stock valued at $1,173,000 after purchasing an additional 4,448 shares in the last quarter. Creative Planning lifted its position in Universal Display by 16.1% during the third quarter. Creative Planning now owns 15,406 shares of the semiconductor company's stock valued at $3,234,000 after buying an additional 2,132 shares in the last quarter. Swedbank AB lifted its position in Universal Display by 14.9% during the third quarter. Swedbank AB now owns 5,364 shares of the semiconductor company's stock valued at $1,126,000 after buying an additional 696 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Universal Display by 1.8% during the third quarter. Vontobel Holding Ltd. now owns 167,347 shares of the semiconductor company's stock valued at $35,126,000 after purchasing an additional 2,885 shares during the period. Finally, Heritage Family Offices LLP bought a new stake in shares of Universal Display in the third quarter worth $408,000. Institutional investors and hedge funds own 78.19% of the company's stock.

Universal Display Price Performance

NASDAQ OLED traded down $1.21 on Monday, hitting $142.50. 762,542 shares of the company were exchanged, compared to its average volume of 730,779. The company's 50 day moving average price is $149.29 and its 200-day moving average price is $174.39. The firm has a market capitalization of $6.76 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 1.57 and a beta of 1.39. Universal Display Co. has a twelve month low of $140.17 and a twelve month high of $237.00.

Analyst Ratings Changes

Several equities analysts have recently issued reports on OLED shares. Citigroup reduced their price target 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. Oppenheimer reduced their price objective on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Thursday, January 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $215.00 price objective on shares of Universal Display in a report on Thursday, January 16th. TD Cowen dropped their price target on shares of Universal Display from $250.00 to $225.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group dropped their price target on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $199.57.

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.