Assenagon Asset Management S.A. Sells 3,186 Shares of Universal Display Co. (NASDAQ:OLED)

Assenagon Asset Management S.A. decreased its stake in shares of Universal Display Co. (NASDAQ:OLED) by 22.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,768 shares of the semiconductor company’s stock after selling 3,186 shares during the period. Assenagon Asset Management S.A.’s holdings in Universal Display were worth $2,260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SageView Advisory Group LLC purchased a new stake in Universal Display during the first quarter valued at approximately $1,179,000. Montag A & Associates Inc. increased its holdings in Universal Display by 28.9% during the first quarter. Montag A & Associates Inc. now owns 11,848 shares of the semiconductor company’s stock valued at $1,996,000 after buying an additional 2,655 shares during the last quarter. Tidal Investments LLC increased its holdings in Universal Display by 172.0% during the first quarter. Tidal Investments LLC now owns 6,246 shares of the semiconductor company’s stock valued at $1,052,000 after buying an additional 3,950 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Universal Display during the first quarter valued at approximately $1,001,000. Finally, Harbor Capital Advisors Inc. increased its holdings in Universal Display by 375.1% during the second quarter. Harbor Capital Advisors Inc. now owns 10,043 shares of the semiconductor company’s stock valued at $2,112,000 after buying an additional 7,929 shares during the last quarter. Institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

OLED opened at $180.32 on Friday. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 39.20, a PEG ratio of 2.16 and a beta of 1.42. The company has a fifty day moving average of $201.79 and a 200 day moving average of $193.89. Universal Display Co. has a fifty-two week low of $133.67 and a fifty-two week high of $237.00.

Universal Display (NASDAQ:OLED) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.20. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The company had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. During the same period last year, the company posted $1.08 earnings per share. Universal Display’s quarterly revenue was up 14.6% on a year-over-year basis. On average, equities research analysts forecast that Universal Display Co. will post 4.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Roth Mkm increased their price objective on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their price objective on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Susquehanna increased their price objective on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Needham & Company LLC reduced their price objective on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Oppenheimer reduced their price objective on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research note on Thursday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Universal Display currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.63.

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.