Rhumbline Advisers Decreases Stock Position in Universal Display Corporation $OLED

Rhumbline Advisers trimmed its position in shares of Universal Display Corporation (NASDAQ:OLED) by 14.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 152,301 shares of the semiconductor company’s stock after selling 26,600 shares during the quarter. Rhumbline Advisers’ holdings in Universal Display were worth $21,875,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. purchased a new stake in shares of Universal Display during the second quarter worth $30,000. Smartleaf Asset Management LLC boosted its position in Universal Display by 309.8% during the third quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 158 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Universal Display by 236.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 202 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 142 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Universal Display in the 3rd quarter valued at about $37,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in Universal Display in the 2nd quarter valued at about $39,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Stock Down 1.5%

NASDAQ:OLED opened at $124.90 on Tuesday. Universal Display Corporation has a 52 week low of $103.70 and a 52 week high of $164.29. The stock’s fifty day moving average is $120.24 and its two-hundred day moving average is $131.06. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 3.51 and a beta of 1.63.

Analysts Set New Price Targets

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

Universal Display Profile

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.