First Citizens Bank & Trust Co. Increases Stock Holdings in Universal Display Co. (NASDAQ:OLED)

First Citizens Bank & Trust Co. boosted its stake in Universal Display Co. (NASDAQ:OLED) by 17.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,494 shares of the semiconductor company’s stock after acquiring an additional 225 shares during the period. First Citizens Bank & Trust Co.’s holdings in Universal Display were worth $218,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in OLED. Geneos Wealth Management Inc. boosted its stake in shares of Universal Display by 185.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 232 shares in the last quarter. Inspire Investing LLC purchased a new stake in Universal Display in the fourth quarter worth about $462,000. Empirical Asset Management LLC bought a new stake in Universal Display during the 4th quarter valued at approximately $388,000. Park Avenue Securities LLC grew its holdings in shares of Universal Display by 20.0% during the 4th quarter. Park Avenue Securities LLC now owns 1,725 shares of the semiconductor company’s stock worth $252,000 after acquiring an additional 288 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Universal Display by 627.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 78,351 shares of the semiconductor company’s stock worth $11,455,000 after acquiring an additional 67,583 shares in the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on OLED. Needham & Company LLC restated a “buy” rating and set a $215.00 price target on shares of Universal Display in a research report on Thursday, January 16th. TD Cowen dropped their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Oppenheimer decreased their price target 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. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $212.50.

Insider Activity

In other news, Director Lawrence Lacerte acquired 742 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the acquisition, the director now directly owns 122,372 shares in the company, valued at approximately $22,135,871.08. The trade was a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.90% of the company’s stock.

Universal Display Trading Down 3.4 %

NASDAQ OLED opened at $145.19 on Wednesday. Universal Display Co. has a 12 month low of $142.50 and a 12 month high of $237.00. The stock’s fifty day moving average price is $154.43 and its 200-day moving average price is $182.26. The stock has a market cap of $6.89 billion, a P/E ratio of 29.15, a P/E/G ratio of 1.62 and a beta of 1.40.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.21. The business had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. Universal Display’s revenue was up 14.6% compared to the same quarter last year. During the same period last year, the business earned $1.08 EPS. As a group, analysts forecast that Universal Display Co. will post 4.77 earnings per share for the current fiscal year.

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.