Universal Display (OLED) Trading Up -4.1%

Universal Display Co. (NASDAQ:OLED) was up 4.1% during trading on Wednesday . The stock traded as high as $156.75 and last traded at $149.05. Approximately 805,129 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 1,546,749 shares. The stock had previously closed at $155.45.

OLED has been the subject of several research analyst reports. Cowen set a $140.00 target price on Universal Display and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research downgraded Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Cross Research downgraded Universal Display from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Deutsche Bank reaffirmed a “buy” rating and set a $190.00 target price on shares of Universal Display in a research note on Thursday, January 25th. Finally, Evercore ISI initiated coverage on Universal Display in a research note on Thursday, November 30th. They set an “outperform” rating and a $225.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $164.80.

The company has a market cap of $7,060.00, a P/E ratio of 71.79 and a beta of 0.90.

In related news, Chairman Sherwin I. Seligsohn sold 50,000 shares of the stock in a transaction on Friday, January 12th. The stock was sold at an average price of $200.00, for a total value of $10,000,000.00. Following the completion of the transaction, the chairman now directly owns 143,119 shares of the company’s stock, valued at approximately $28,623,800. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.20% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE raised its stake in Universal Display by 4,188.2% in the 4th quarter. US Bancorp DE now owns 729 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 712 shares during the last quarter. Cerebellum GP LLC acquired a new position in Universal Display in the 4th quarter valued at $129,000. Glassman Wealth Services raised its stake in Universal Display by 60.7% in the 4th quarter. Glassman Wealth Services now owns 961 shares of the semiconductor company’s stock valued at $166,000 after purchasing an additional 363 shares during the last quarter. Aries Wealth Management acquired a new position in Universal Display in the 4th quarter valued at $204,000. Finally, CIBC Asset Management Inc acquired a new position in Universal Display in the 3rd quarter valued at $205,000. 64.50% of the stock is owned by hedge funds and other institutional investors.

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About Universal Display

Universal Display Corporation is engaged 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 also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.

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