Taurus Asset Management LLC cut its holdings in shares of Universal Display Co. (NASDAQ:OLED – Free Report) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,110 shares of the semiconductor company’s stock after selling 200 shares during the period. Taurus Asset Management LLC’s holdings in Universal Display were worth $802,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its stake in Universal Display by 2.8% in the first quarter. BlackRock Inc. now owns 4,309,400 shares of the semiconductor company’s stock valued at $719,455,000 after purchasing an additional 117,055 shares during the period. Vanguard Group Inc. increased its position in Universal Display by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 4,266,391 shares of the semiconductor company’s stock valued at $712,274,000 after acquiring an additional 241,855 shares during the period. State Street Corp raised its stake in Universal Display by 1.2% during the 2nd quarter. State Street Corp now owns 1,521,726 shares of the semiconductor company’s stock valued at $219,326,000 after acquiring an additional 18,071 shares during the last quarter. Alliancebernstein L.P. lifted its position in Universal Display by 7.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,435,162 shares of the semiconductor company’s stock worth $206,850,000 after acquiring an additional 94,570 shares during the period. Finally, Macquarie Group Ltd. grew its stake in shares of Universal Display by 20.6% in the 1st quarter. Macquarie Group Ltd. now owns 1,103,950 shares of the semiconductor company’s stock valued at $171,256,000 after purchasing an additional 188,430 shares during the last quarter. 75.92% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Oppenheimer raised their price objective on shares of Universal Display from $180.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. TheStreet raised Universal Display from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Roth Mkm reduced their target price on Universal Display from $196.00 to $176.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Needham & Company LLC boosted their price objective on shares of Universal Display from $175.00 to $198.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Finally, Citigroup reissued a “neutral” rating and set a $180.00 price target (up previously from $161.00) on shares of Universal Display in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and an average price target of $186.89.
Universal Display Price Performance
Shares of Universal Display stock opened at $183.74 on Monday. The business has a 50 day moving average price of $180.50 and a 200 day moving average price of $164.81. The company has a market capitalization of $8.70 billion, a P/E ratio of 42.63, a P/E/G ratio of 2.27 and a beta of 1.51. Universal Display Co. has a 1 year low of $125.38 and a 1 year high of $194.84.
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. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.
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