Universal Display Co. (NASDAQ:OLED) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. reduced its holdings in Universal Display Co. (NASDAQ:OLED) by 0.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 437,688 shares of the semiconductor company’s stock after selling 2,262 shares during the quarter. Universal Display accounts for approximately 7.5% of Griffin Asset Management Inc.’s portfolio, making the stock its largest position. Griffin Asset Management Inc.’s holdings in Universal Display were worth $63,990,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Citigroup Inc. increased its position in shares of Universal Display by 1,387.6% in the 3rd quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock valued at $54,936,000 after buying an additional 244,129 shares in the last quarter. Raymond James & Associates grew its position in shares of Universal Display by 629.9% in the 3rd 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 during the period. Barclays PLC increased its stake in Universal Display by 753.8% during the 3rd quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock worth $44,608,000 after purchasing an additional 187,627 shares in the last quarter. Southpoint Capital Advisors LP raised its holdings in Universal Display by 46.0% during the 3rd quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock worth $76,614,000 after buying an additional 115,000 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Universal Display by 27.2% in the third quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock valued at $101,914,000 after buying an additional 108,394 shares in the last quarter. 78.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on OLED shares. TD Cowen dropped their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $215.00 target price on shares of Universal Display in a research note on Thursday, January 16th. Finally, Oppenheimer lowered their price objective on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, January 2nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $212.50.

Insider Transactions at Universal Display

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was bought 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 of the company’s stock, valued at $22,135,871.08. This trade represents a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Universal Display Trading Down 0.3 %

Shares of OLED stock opened at $150.26 on Tuesday. The stock has a 50-day moving average of $154.81 and a 200-day moving average of $182.83. Universal Display Co. has a 1-year low of $143.25 and a 1-year high of $237.00. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 1.62 and a beta of 1.40.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.21. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The business had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. During the same quarter in the previous year, the business earned $1.08 EPS. The company’s quarterly revenue was up 14.6% on a year-over-year basis. Sell-side analysts forecast that Universal Display Co. will post 4.77 earnings per share for the current year.

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.