AMG National Trust Bank boosted its holdings in Universal Display Co. (NASDAQ:OLED) by 6.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 19,350 shares of the semiconductor company’s stock after buying an additional 1,250 shares during the period. AMG National Trust Bank’s holdings in Universal Display were worth $3,341,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of OLED. US Bancorp DE increased its stake in Universal Display by 4,188.2% in the 4th quarter. US Bancorp DE now owns 729 shares of the semiconductor company’s stock worth $126,000 after buying an additional 712 shares in the last quarter. Cerebellum GP LLC purchased a new stake in Universal Display in the 4th quarter worth $129,000. Glassman Wealth Services increased its stake in Universal Display by 60.7% in the 4th quarter. Glassman Wealth Services now owns 961 shares of the semiconductor company’s stock worth $166,000 after buying an additional 363 shares in the last quarter. Aries Wealth Management purchased a new stake in Universal Display in the 4th quarter worth $204,000. Finally, CIBC Asset Management Inc purchased a new stake in Universal Display in the 3rd quarter worth $205,000. Institutional investors and hedge funds own 66.36% of the company’s stock.
A number of equities research analysts have issued reports on the company. Zacks Investment Research lowered Universal Display from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. 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 for the company. Cowen reiterated an “outperform” rating and issued a $195.00 price target (up previously from $155.00) on shares of Universal Display in a research note on Friday, November 10th. Needham & Company LLC restated a “hold” rating on shares of Universal Display in a research report on Friday, November 3rd. Finally, Deutsche Bank raised their price objective on Universal Display to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $168.91.
In related news, Chairman Sherwin I. Seligsohn sold 50,000 shares of Universal Display stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $200.00, for a total value of $10,000,000.00. Following the completion of the transaction, the chairman now owns 143,119 shares in the company, valued at $28,623,800. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.20% of the company’s stock.
Shares of Universal Display Co. (NASDAQ:OLED) traded down $5.50 during trading on Thursday, hitting $155.60. The stock had a trading volume of 1,825,600 shares, compared to its average volume of 1,636,881. The stock has a market capitalization of $7,578.24, a price-to-earnings ratio of 75.71 and a beta of 0.90. Universal Display Co. has a 52-week low of $66.65 and a 52-week high of $209.00.
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Universal Display Company 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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