Peregrine Investment Management Inc. Buys Shares of 52,399 Universal Display Co. (NASDAQ:OLED)

Peregrine Investment Management Inc. purchased a new position in Universal Display Co. (NASDAQ:OLED) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 52,399 shares of the semiconductor company’s stock, valued at approximately $7,661,000. Universal Display comprises approximately 4.4% of Peregrine Investment Management Inc.’s portfolio, making the stock its 13th largest position. Peregrine Investment Management Inc. owned 0.11% of Universal Display as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Creative Planning boosted its stake in Universal Display by 16.1% during the 3rd quarter. Creative Planning now owns 15,406 shares of the semiconductor company’s stock worth $3,234,000 after purchasing an additional 2,132 shares during the last quarter. Swedbank AB boosted its position in Universal Display by 14.9% during the third quarter. Swedbank AB now owns 5,364 shares of the semiconductor company’s stock worth $1,126,000 after acquiring an additional 696 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Universal Display during the 3rd quarter valued at about $31,000. Slow Capital Inc. raised its holdings in Universal Display by 4.7% in the 3rd quarter. Slow Capital Inc. now owns 23,351 shares of the semiconductor company’s stock valued at $4,901,000 after acquiring an additional 1,053 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in Universal Display by 629.9% in the 3rd quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock worth $56,550,000 after purchasing an additional 232,503 shares in the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Trading Down 0.8 %

Shares of OLED opened at $142.50 on Friday. The company’s 50-day moving average price is $149.60 and its 200 day moving average price is $175.22. Universal Display Co. has a 12-month low of $140.17 and a 12-month high of $237.00. The firm has a market cap of $6.76 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 1.57 and a beta of 1.39.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Oppenheimer dropped their price target on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, January 2nd. The Goldman Sachs Group dropped their target price on 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 reiterated a “buy” rating and set a $215.00 price target on shares of Universal Display in a report on Thursday, January 16th. Citigroup dropped their price objective on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Finally, TD Cowen reduced their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.57.

Universal Display Company 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.