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

Peregrine Investment Management Inc. increased its position in shares of Universal Display Corporation (NASDAQ:OLED) by 24.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,560 shares of the semiconductor company’s stock after buying an additional 10,000 shares during the period. Universal Display comprises about 3.6% of Peregrine Investment Management Inc.’s portfolio, making the stock its 15th biggest position. Peregrine Investment Management Inc. owned 0.11% of Universal Display worth $7,262,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Primecap Management Co. CA increased its position in shares of 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 last quarter. Norges Bank purchased a new stake in shares of Universal Display during the 2nd quarter worth $124,480,000. First Trust Advisors LP grew its stake in shares of Universal Display by 14.9% during the second quarter. First Trust Advisors LP now owns 699,412 shares of the semiconductor company’s stock worth $108,031,000 after purchasing an additional 90,766 shares in the last quarter. Greenhouse Funds LLLP increased its holdings in 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 last quarter. Finally, Rafferty Asset Management LLC raised its stake in Universal Display by 63.2% in the second quarter. Rafferty Asset Management LLC now owns 574,161 shares of the semiconductor company’s stock valued at $88,685,000 after buying an additional 222,327 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Analysts Set New Price Targets

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

Universal Display Stock Down 4.1%

NASDAQ:OLED opened at $126.77 on Friday. The company has a market capitalization of $6.03 billion, a PE ratio of 27.32, a P/E/G ratio of 3.71 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’s 50 day moving average price is $120.11 and its 200 day moving average price is $131.60.

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.