Peregrine Investment Management Inc. Acquires New Stake in Universal Display Co. (NASDAQ:OLED)

Peregrine Investment Management Inc. bought a new stake in shares of Universal Display Co. (NASDAQ:OLED) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 52,399 shares of the semiconductor company’s stock, valued at approximately $7,661,000. Universal Display accounts for 4.4% of Peregrine Investment Management Inc.’s portfolio, making the stock its 13th biggest position.

Several other institutional investors also recently bought and sold shares of the company. Assetmark Inc. purchased a new position in shares of Universal Display in the third quarter valued at approximately $29,000. Brooklyn Investment Group acquired a new stake in Universal Display during the 3rd quarter worth approximately $30,000. V Square Quantitative Management LLC purchased a new position in Universal Display in the 3rd quarter valued at approximately $31,000. True Wealth Design LLC acquired a new position in shares of Universal Display in the third quarter worth $36,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Universal Display by 60.2% in the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 65 shares in the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on OLED. Oppenheimer decreased their target price on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, January 2nd. Needham & Company LLC reiterated 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 cut their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Citigroup reduced their target price on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Finally, The Goldman Sachs Group lowered their price target on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.57.

Universal Display Trading Down 0.8 %

OLED stock opened at $142.50 on Friday. The company’s 50 day moving average is $149.60 and its two-hundred day moving average is $175.22. Universal Display Co. has a twelve month low of $140.17 and a twelve month high of $237.00. The stock has a market cap of $6.76 billion, a P/E ratio of 28.61, a PEG ratio of 1.57 and a beta of 1.39.

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.