Van ECK Associates Corp Cuts Stock Position in Universal Display Co. (NASDAQ:OLED)

Van ECK Associates Corp lessened its stake in Universal Display Co. (NASDAQ:OLED) by 1.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 501,489 shares of the semiconductor company’s stock after selling 5,951 shares during the quarter. Van ECK Associates Corp’s holdings in Universal Display were worth $73,318,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. purchased a new stake in Universal Display in the 3rd quarter worth $29,000. Brooklyn Investment Group purchased a new stake in shares of Universal Display during the third quarter worth $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Universal Display during the third quarter worth $31,000. True Wealth Design LLC purchased a new stake in shares of Universal Display during the third quarter worth $36,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Universal Display by 60.2% during the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock worth $36,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Trading Up 0.9 %

Shares of OLED stock opened at $143.71 on Friday. The company’s 50-day moving average price is $149.91 and its 200-day moving average price is $176.10. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.57 and a beta of 1.39. Universal Display Co. has a twelve month low of $140.17 and a twelve month high of $237.00.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OLED. Oppenheimer dropped their target price on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, January 2nd. TD Cowen dropped their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 31st. The Goldman Sachs Group dropped their target price on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $215.00 target price on shares of Universal Display in a report on Thursday, January 16th. Finally, Citigroup lowered their price target on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $199.57.

Universal Display Profile

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 in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.