Universal Display Corporation $OLED Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 14.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,301 shares of the semiconductor company’s stock after selling 26,600 shares during the quarter. Rhumbline Advisers owned about 0.32% of Universal Display worth $21,875,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Focus Partners Wealth increased its position in shares of Universal Display by 6.4% in the 1st quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock valued at $513,000 after acquiring an additional 221 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Universal Display in the second quarter worth about $205,000. TD Asset Management Inc acquired a new stake in shares of Universal Display during the second quarter worth about $1,421,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Universal Display in the second quarter valued at approximately $1,269,000. Finally, Whittier Trust Co. purchased a new stake in Universal Display in the second quarter valued at approximately $30,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Price Performance

Shares of OLED stock opened at $124.90 on Tuesday. Universal Display Corporation has a 1-year low of $103.70 and a 1-year high of $164.29. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 3.51 and a beta of 1.63. The stock has a 50 day simple moving average of $120.24 and a 200-day simple moving average of $131.06.

Analyst Ratings Changes

OLED has been the subject of several research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a research note on Wednesday, December 24th. Needham & Company LLC reissued a “buy” rating and set a $150.00 target price on shares of Universal Display in a report on Monday, December 22nd. Citigroup lowered their target price on Universal Display from $150.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 27th. Zacks Research downgraded Universal Display from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Finally, Wall Street Zen cut shares of Universal Display from a “hold” rating to a “sell” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $163.25.

Universal Display Company Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.