Universal Display (OLED) Sees Strong Trading Volume

Shares of Universal Display Co. (NASDAQ:OLED) saw strong trading volume on Wednesday . 3,742,710 shares were traded during trading, an increase of 128% from the previous session’s volume of 1,642,216 shares.The stock last traded at $159.15 and had previously closed at $146.10.

A number of equities research analysts have issued reports on the company. Zacks Investment Research cut Universal Display from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Evercore ISI assumed coverage on Universal Display in a research report on Thursday, November 30th. They set an “outperform” rating and a $225.00 target price for the company. Cowen reaffirmed an “outperform” rating and set a $195.00 target price (up previously from $155.00) on shares of Universal Display in a research report on Friday, November 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Universal Display in a research report on Friday, November 3rd. Finally, Deutsche Bank upped their target price on Universal Display to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $164.80.

The stock has a market capitalization of $7,490.00, a price-to-earnings ratio of 76.15 and a beta of 0.90.

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

Hedge funds have recently modified their holdings of the company. US Bancorp DE lifted its holdings in shares of Universal Display by 4,188.2% during the fourth quarter. US Bancorp DE now owns 729 shares of the semiconductor company’s stock worth $126,000 after buying an additional 712 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Universal Display during the fourth quarter worth approximately $129,000. Aevitas Wealth Management Inc. acquired a new position in shares of Universal Display during the fourth quarter worth approximately $165,000. Glassman Wealth Services lifted its holdings in shares of Universal Display by 60.7% during the fourth quarter. Glassman Wealth Services now owns 961 shares of the semiconductor company’s stock worth $166,000 after buying an additional 363 shares during the last quarter. Finally, American International Group Inc. acquired a new position in shares of Universal Display during the fourth quarter worth approximately $170,000. Institutional investors own 64.42% of the company’s stock.

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Universal Display Company Profile

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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