Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in Universal Display Co. (OLED)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Universal Display Co. (NASDAQ:OLED) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,240 shares of the semiconductor company’s stock after purchasing an additional 652 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Universal Display were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in OLED. Columbus Circle Investors raised its holdings in shares of Universal Display by 24.1% during the third quarter. Columbus Circle Investors now owns 843,537 shares of the semiconductor company’s stock valued at $108,690,000 after purchasing an additional 163,569 shares during the period. Neuberger Berman Group LLC raised its holdings in shares of Universal Display by 17.8% during the third quarter. Neuberger Berman Group LLC now owns 714,223 shares of the semiconductor company’s stock valued at $92,028,000 after purchasing an additional 107,751 shares during the period. Scout Investments Inc. acquired a new position in shares of Universal Display during the third quarter valued at about $12,515,000. First Trust Advisors LP raised its holdings in shares of Universal Display by 118.9% during the third quarter. First Trust Advisors LP now owns 170,358 shares of the semiconductor company’s stock valued at $21,951,000 after purchasing an additional 92,546 shares during the period. Finally, Jennison Associates LLC acquired a new position in shares of Universal Display during the fourth quarter valued at about $14,926,000. Hedge funds and other institutional investors own 64.42% of the company’s stock.

In other Universal Display news, Chairman Sherwin I. Seligsohn sold 50,000 shares of the company’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $200.00, for a total value of $10,000,000.00. Following the completion of the sale, the chairman now directly owns 143,119 shares of the company’s stock, valued at approximately $28,623,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.20% of the company’s stock.

Shares of Universal Display Co. (NASDAQ OLED) opened at $146.10 on Wednesday. The company has a market cap of $6,870.00, a PE ratio of 69.90 and a beta of 0.90. Universal Display Co. has a 52-week low of $66.65 and a 52-week high of $209.00.

Several equities analysts have recently weighed in on OLED shares. Zacks Investment Research lowered shares of Universal Display from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th. Cross Research downgraded shares of Universal Display from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Cowen set a $150.00 target price on shares of Universal Display and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Deutsche Bank reissued a “buy” rating and set a $190.00 target price on shares of Universal Display in a research report on Thursday, January 25th. Finally, Evercore ISI started coverage on shares of Universal Display in a research report on Thursday, November 30th. They set an “outperform” rating and a $225.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Universal Display presently has a consensus rating of “Hold” and a consensus price target of $164.80.

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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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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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