Universal Display Corporation $OLED Shares Bought by Peregrine Investment Management Inc.

Peregrine Investment Management Inc. lifted its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 24.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 50,560 shares of the semiconductor company’s stock after buying an additional 10,000 shares during the quarter. Universal Display makes up approximately 3.6% of Peregrine Investment Management Inc.’s investment portfolio, making the stock its 15th largest position. Peregrine Investment Management Inc.’s holdings in Universal Display were worth $7,262,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Truist Financial Corp increased its holdings in shares of Universal Display by 54.7% in the third quarter. Truist Financial Corp now owns 63,262 shares of the semiconductor company’s stock valued at $9,086,000 after purchasing an additional 22,380 shares during the period. Baker Avenue Asset Management LP purchased a new position in Universal Display in the 2nd quarter valued at $1,398,000. Creative Planning grew its position in Universal Display by 12.7% in the 2nd quarter. Creative Planning now owns 19,847 shares of the semiconductor company’s stock valued at $3,066,000 after buying an additional 2,239 shares during the last quarter. Avenir Corp increased its stake in Universal Display by 14.5% in the 2nd quarter. Avenir Corp now owns 223,150 shares of the semiconductor company’s stock valued at $34,468,000 after buying an additional 28,277 shares during the period. Finally, Segall Bryant & Hamill LLC raised its position in Universal Display by 14.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 243,864 shares of the semiconductor company’s stock worth $37,667,000 after buying an additional 30,860 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

OLED opened at $126.77 on Friday. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 3.71 and a beta of 1.63. Universal Display Corporation has a one year low of $103.70 and a one year high of $164.29. The business’s fifty day moving average is $120.11 and its two-hundred day moving average is $131.60.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OLED. Citigroup dropped their price target on shares of Universal Display from $150.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 27th. Zacks Research cut Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Needham & Company LLC reissued a “buy” rating and set a $150.00 target price on shares of Universal Display in a research note on Monday, December 22nd. Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a research note on Wednesday, December 24th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Universal Display has a consensus rating of “Hold” and an average price target of $163.25.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.