Texas Permanent School Fund Corp lessened its stake in Universal Display Co. (NASDAQ:OLED – Free Report) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,994 shares of the semiconductor company’s stock after selling 1,349 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Universal Display were worth $5,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently modified their holdings of the company. Barclays PLC raised its position in Universal Display by 15.0% in the 3rd quarter. Barclays PLC now owns 61,724 shares of the semiconductor company’s stock worth $9,690,000 after buying an additional 8,041 shares during the last quarter. XXEC Inc. purchased a new position in Universal Display in the 3rd quarter worth about $471,000. Geode Capital Management LLC raised its position in Universal Display by 7.0% in the 2nd quarter. Geode Capital Management LLC now owns 786,496 shares of the semiconductor company’s stock worth $113,358,000 after buying an additional 51,173 shares during the last quarter. Impax Asset Management Group plc raised its position in Universal Display by 70.6% in the 2nd quarter. Impax Asset Management Group plc now owns 4,694 shares of the semiconductor company’s stock worth $677,000 after buying an additional 1,943 shares during the last quarter. Finally, EFG Asset Management North America Corp. purchased a new position in Universal Display in the 3rd quarter worth about $1,121,000. Hedge funds and other institutional investors own 75.92% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently commented on OLED. Roth Mkm reduced their price target on shares of Universal Display from $196.00 to $176.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Oppenheimer boosted their price objective on Universal Display from $180.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Needham & Company LLC boosted their price objective on Universal Display from $175.00 to $198.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. TheStreet upgraded Universal Display from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Finally, Bank of America upgraded Universal Display from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $160.00 to $250.00 in a research note on Monday, December 18th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $186.89.
Universal Display Trading Up 1.3 %
OLED opened at $183.74 on Monday. Universal Display Co. has a 12-month low of $125.38 and a 12-month high of $194.84. The business’s fifty day simple moving average is $180.50 and its 200-day simple moving average is $164.81. The company has a market capitalization of $8.70 billion, a price-to-earnings ratio of 42.63, a PEG ratio of 2.27 and a beta of 1.51.
About Universal Display
Universal Display Corporation engages 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 offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.
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