Schwab Charles Investment Management Inc. Increases Position in Universal Display Co. (OLED)
Schwab Charles Investment Management Inc. boosted its position in Universal Display Co. (NASDAQ:OLED) by 7.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 185,690 shares of the semiconductor company’s stock after acquiring an additional 12,816 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Universal Display were worth $32,060,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. CIBC Asset Management Inc bought a new stake in shares of Universal Display during the third quarter valued at about $205,000. Comerica Bank bought a new stake in shares of Universal Display during the third quarter valued at about $221,000. Ballentine Partners LLC bought a new stake in shares of Universal Display during the third quarter valued at about $209,000. Jarislowsky Fraser Ltd bought a new stake in shares of Universal Display during the third quarter valued at about $212,000. Finally, Investment Centers of America Inc. bought a new stake in shares of Universal Display during the third quarter valued at about $219,000. Institutional investors and hedge funds own 64.50% of the company’s stock.
Several equities research analysts have recently weighed in on the company. BidaskClub cut Universal Display from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of Universal Display in a research report on Friday, November 3rd. Susquehanna Bancshares upped their price target on Universal Display from $195.00 to $215.00 and gave the company a “positive” rating in a research report on Friday, January 5th. Deutsche Bank upped their price target on Universal Display to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Finally, Cowen reiterated an “outperform” rating and set a $195.00 price target (up from $155.00) on shares of Universal Display in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $164.80.
In related news, Chairman Sherwin I. Seligsohn sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $200.00, for a total value of $10,000,000.00. Following the transaction, the chairman now directly owns 143,119 shares in the company, valued at $28,623,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.20% of the stock is currently owned by corporate insiders.
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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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