Universal Display Co. (NASDAQ:OLED) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. cut its holdings in Universal Display Co. (NASDAQ:OLED) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 437,688 shares of the semiconductor company’s stock after selling 2,262 shares during the period. Universal Display comprises about 7.5% of Griffin Asset Management Inc.’s holdings, making the stock its largest position. Griffin Asset Management Inc. owned 0.92% of Universal Display worth $63,990,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC boosted its position in shares of Universal Display by 190.8% in the 2nd quarter. AQR Capital Management LLC now owns 62,723 shares of the semiconductor company’s stock valued at $13,178,000 after purchasing an additional 41,154 shares during the period. Creative Planning increased its position in shares of Universal Display by 3.5% in the second quarter. Creative Planning now owns 13,274 shares of the semiconductor company’s stock valued at $2,791,000 after buying an additional 445 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Universal Display in the second quarter valued at about $273,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Universal Display by 2.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 50,199 shares of the semiconductor company’s stock valued at $10,554,000 after buying an additional 1,073 shares during the last quarter. Finally, Curbstone Financial Management Corp boosted its stake in shares of Universal Display by 7.7% during the 3rd quarter. Curbstone Financial Management Corp now owns 2,810 shares of the semiconductor company’s stock worth $590,000 after purchasing an additional 200 shares during the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Lawrence Lacerte acquired 742 shares of the stock in a transaction dated Monday, November 4th. The shares were bought at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the purchase, the director now owns 122,372 shares in the company, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.90% of the company’s stock.

Universal Display Stock Down 0.3 %

Shares of NASDAQ OLED opened at $150.26 on Tuesday. Universal Display Co. has a 52-week low of $143.25 and a 52-week high of $237.00. The stock has a market capitalization of $7.13 billion, a P/E ratio of 30.17, a P/E/G ratio of 1.62 and a beta of 1.40. The firm’s 50-day moving average price is $154.81 and its two-hundred day moving average price is $182.83.

Universal Display (NASDAQ:OLED) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.21. The business had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The company’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the business posted $1.08 earnings per share. As a group, equities research analysts expect that Universal Display Co. will post 4.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Oppenheimer cut their price objective on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, January 2nd. TD Cowen reduced their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $215.00 target price on shares of Universal Display in a research report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.50.

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.