WASHINGTON TRUST Co raised its stake in Universal Display Co. (NASDAQ:OLED) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,932 shares of the semiconductor company’s stock after acquiring an additional 4,070 shares during the period. WASHINGTON TRUST Co owned approximately 0.19% of Universal Display worth $15,354,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE increased its stake in shares of Universal Display by 4,188.2% in the 4th quarter. US Bancorp DE now owns 729 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 712 shares during the last quarter. Cerebellum GP LLC bought a new position in shares of Universal Display in the 4th quarter valued at $129,000. CIBC Asset Management Inc bought a new position in shares of Universal Display in the 3rd quarter valued at $205,000. Ballentine Partners LLC bought a new position in shares of Universal Display in the 3rd quarter valued at $209,000. Finally, Jarislowsky Fraser Ltd bought a new position in shares of Universal Display in the 3rd quarter valued at $212,000. 64.42% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Universal Display from a “hold” rating to a “buy” rating and set a $228.00 price target on the stock in a research note on Friday, January 19th. Evercore ISI assumed coverage on Universal Display in a research note on Thursday, November 30th. They issued an “outperform” rating and a $225.00 price target on the stock. Deutsche Bank reiterated a “buy” rating and issued a $190.00 price target on shares of Universal Display in a research note on Thursday, January 25th. Susquehanna Bancshares boosted their price objective on Universal Display from $195.00 to $215.00 and gave the stock a “positive” rating in a research report on Friday, January 5th. Finally, Cowen restated an “outperform” rating and set a $195.00 price objective (up previously from $155.00) on shares of Universal Display in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Universal Display presently has an average rating of “Hold” and a consensus price target of $164.80.
In related news, Chairman Sherwin I. Seligsohn sold 50,000 shares of the business’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $200.00, for a total transaction of $10,000,000.00. Following the sale, the chairman now owns 143,119 shares in the company, valued at approximately $28,623,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.20% of the company’s stock.
Shares of Universal Display Co. (OLED) traded up $4.60 during mid-day trading on Tuesday, reaching $147.95. The company had a trading volume of 1,446,800 shares, compared to its average volume of 1,547,318. The company has a market cap of $6,960.00, a price-to-earnings ratio of 70.79 and a beta of 0.90. Universal Display Co. has a twelve month low of $64.30 and a twelve month high of $209.00.
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Universal Display Profile
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.
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