Handelsbanken Fonder AB Trims Stake in Universal Display Co. (NASDAQ:OLED)

Handelsbanken Fonder AB cut its stake in shares of Universal Display Co. (NASDAQ:OLED) by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 182,278 shares of the semiconductor company’s stock after selling 21,842 shares during the period. Handelsbanken Fonder AB owned about 0.38% of Universal Display worth $26,649,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of OLED. Assetmark Inc. bought a new position in shares of Universal Display in the third quarter worth about $29,000. Brooklyn Investment Group bought a new stake in Universal Display during the 3rd quarter worth approximately $30,000. Nisa Investment Advisors LLC lifted its holdings in Universal Display by 60.2% during the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 65 shares in the last quarter. True Wealth Design LLC purchased a new position in Universal Display during the third quarter valued at approximately $36,000. Finally, Blue Trust Inc. boosted its position in shares of Universal Display by 401.9% in the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 209 shares during the period. Institutional investors own 78.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on OLED shares. The Goldman Sachs Group decreased their price objective on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Citigroup lowered their price objective on Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $215.00 price objective on shares of Universal Display in a research note on Thursday, January 16th. TD Cowen decreased their target price on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, 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 note on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $199.57.

Universal Display Stock Performance

NASDAQ OLED opened at $147.34 on Friday. The stock has a 50 day moving average price of $148.52 and a 200-day moving average price of $173.82. Universal Display Co. has a one year low of $140.17 and a one year high of $237.00. The company has a market capitalization of $6.99 billion, a P/E ratio of 29.59, a P/E/G ratio of 1.58 and a beta of 1.39.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.08 by $0.14. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. As a group, equities analysts predict that Universal Display Co. will post 4.77 EPS for the current fiscal year.

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.