Hussman Strategic Advisors Inc. Makes New Investment in Universal Display Co. (NASDAQ:OLED)

Hussman Strategic Advisors Inc. bought a new position in Universal Display Co. (NASDAQ:OLED) in the fourth quarter, Holdings Channel.com reports. The fund bought 6,300 shares of the semiconductor company’s stock, valued at approximately $921,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA lifted its position in Universal Display by 1.6% in the third quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock worth $1,269,000 after purchasing an additional 97 shares during the period. BNP Paribas Financial Markets lifted its position in Universal Display by 8.8% in the third quarter. BNP Paribas Financial Markets now owns 52,713 shares of the semiconductor company’s stock worth $11,064,000 after purchasing an additional 4,269 shares during the period. Montanaro Asset Management Ltd lifted its position in Universal Display by 217.4% in the third quarter. Montanaro Asset Management Ltd now owns 63,260 shares of the semiconductor company’s stock worth $13,278,000 after purchasing an additional 43,330 shares during the period. Cerity Partners LLC lifted its position in Universal Display by 385.2% in the third quarter. Cerity Partners LLC now owns 8,588 shares of the semiconductor company’s stock worth $1,803,000 after purchasing an additional 6,818 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Universal Display by 37.2% in the fourth quarter. Pacer Advisors Inc. now owns 27,246 shares of the semiconductor company’s stock worth $3,983,000 after purchasing an additional 7,390 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $215.00 target price on shares of Universal Display in a research report on Thursday, January 16th. TD Cowen dropped their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Citigroup dropped their price target on Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. The Goldman Sachs Group dropped their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Oppenheimer dropped their price target on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Universal Display has a consensus rating of “Moderate Buy” and a consensus target price of $199.57.

Universal Display Stock Performance

NASDAQ OLED opened at $147.34 on Friday. The business’s fifty day moving average is $148.52 and its two-hundred day moving average is $173.82. The stock has a market capitalization of $6.99 billion, a P/E ratio of 29.59, a P/E/G ratio of 1.60 and a beta of 1.39. Universal Display Co. has a 1 year low of $140.17 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. On average, research analysts forecast that Universal Display Co. will post 4.77 earnings per share for the current year.

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.