Van ECK Associates Corp Cuts Stock Position in Universal Display Co. (NASDAQ:OLED)

Van ECK Associates Corp lowered its position in Universal Display Co. (NASDAQ:OLED) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 501,489 shares of the semiconductor company’s stock after selling 5,951 shares during the period. Van ECK Associates Corp owned approximately 1.06% of Universal Display worth $73,318,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of OLED. CWM LLC boosted its stake in Universal Display by 390.9% in the 3rd quarter. CWM LLC now owns 5,586 shares of the semiconductor company’s stock worth $1,173,000 after purchasing an additional 4,448 shares in the last quarter. Creative Planning boosted its stake in Universal Display by 16.1% in the 3rd quarter. Creative Planning now owns 15,406 shares of the semiconductor company’s stock worth $3,234,000 after purchasing an additional 2,132 shares in the last quarter. Swedbank AB boosted its stake in Universal Display by 14.9% in the 3rd quarter. Swedbank AB now owns 5,364 shares of the semiconductor company’s stock worth $1,126,000 after purchasing an additional 696 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in Universal Display by 1.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 167,347 shares of the semiconductor company’s stock worth $35,126,000 after purchasing an additional 2,885 shares in the last quarter. Finally, Heritage Family Offices LLP acquired a new stake in Universal Display in the 3rd quarter worth approximately $408,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

NASDAQ:OLED opened at $143.71 on Friday. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 1.57 and a beta of 1.39. The company has a 50 day moving average price of $149.91 and a 200-day moving average price of $176.10. Universal Display Co. has a 1-year low of $140.17 and a 1-year high of $237.00.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Oppenheimer lowered their target price on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $215.00 target price on shares of Universal Display in a research note on Thursday, January 16th. The Goldman Sachs Group decreased their price objective on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. TD Cowen decreased their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Citigroup decreased their price objective on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and an average price target of $199.57.

About Universal Display

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.