Candriam S.C.A. Sells 6,291 Shares of Universal Display Corporation $OLED

Candriam S.C.A. cut its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 3.2% in the third quarter, Holdings Channel reports. The institutional investor owned 189,015 shares of the semiconductor company’s stock after selling 6,291 shares during the quarter. Candriam S.C.A.’s holdings in Universal Display were worth $27,148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of OLED. Primecap Management Co. CA boosted its holdings in Universal Display by 20.7% in the 2nd quarter. Primecap Management Co. CA now owns 2,215,308 shares of the semiconductor company’s stock valued at $342,176,000 after purchasing an additional 379,586 shares during the period. Norges Bank acquired a new position in shares of Universal Display during the second quarter valued at about $124,480,000. First Trust Advisors LP lifted its stake in shares of Universal Display by 14.9% in the second quarter. First Trust Advisors LP now owns 699,412 shares of the semiconductor company’s stock valued at $108,031,000 after buying an additional 90,766 shares during the period. Greenhouse Funds LLLP lifted its stake in shares of Universal Display by 14.4% in the second quarter. Greenhouse Funds LLLP now owns 644,146 shares of the semiconductor company’s stock valued at $99,495,000 after buying an additional 81,025 shares during the period. Finally, Rafferty Asset Management LLC grew its position in Universal Display by 63.2% during the second quarter. Rafferty Asset Management LLC now owns 574,161 shares of the semiconductor company’s stock worth $88,685,000 after buying an additional 222,327 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Universal Display Stock Performance

NASDAQ OLED opened at $125.71 on Tuesday. The stock has a market capitalization of $5.98 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 3.40 and a beta of 1.63. Universal Display Corporation has a 52 week low of $103.70 and a 52 week high of $164.29. The stock has a fifty day moving average of $119.63 and a 200-day moving average of $131.77.

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.