Envestnet Asset Management Inc. Purchases 24,244 Shares of Universal Display Corporation $OLED

Envestnet Asset Management Inc. increased its holdings in Universal Display Corporation (NASDAQ:OLED) by 8.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 316,955 shares of the semiconductor company’s stock after purchasing an additional 24,244 shares during the period. Envestnet Asset Management Inc. owned 0.67% of Universal Display worth $45,524,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OLED. HM Payson & Co. increased its holdings in shares of Universal Display by 10.7% in the 3rd quarter. HM Payson & Co. now owns 734 shares of the semiconductor company’s stock worth $105,000 after buying an additional 71 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Universal Display by 27.2% during the third quarter. Farther Finance Advisors LLC now owns 351 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 75 shares during the last quarter. Wealth Alliance LLC raised its position in Universal Display by 4.0% during the second quarter. Wealth Alliance LLC now owns 2,186 shares of the semiconductor company’s stock valued at $338,000 after purchasing an additional 85 shares during the period. Rise Advisors LLC lifted its stake in shares of Universal Display by 53.3% in the 3rd quarter. Rise Advisors LLC now owns 299 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 104 shares during the last quarter. Finally, Money Concepts Capital Corp boosted its holdings in shares of Universal Display by 0.7% in the 3rd quarter. Money Concepts Capital Corp now owns 15,602 shares of the semiconductor company’s stock worth $2,241,000 after purchasing an additional 115 shares during the period. 78.19% of the stock is currently owned by institutional investors.

Universal Display Trading Up 3.0%

Shares of OLED opened at $129.53 on Wednesday. The firm has a market capitalization of $6.16 billion, a P/E ratio of 27.92, a P/E/G ratio of 3.53 and a beta of 1.63. Universal Display Corporation has a 12-month low of $103.70 and a 12-month high of $164.29. The firm has a fifty day moving average price of $119.81 and a 200-day moving average price of $131.63.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OLED. Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Citigroup lowered their target price on shares of Universal Display from $150.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a report on Wednesday, December 24th. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price objective on shares of Universal Display in a research note on Monday, December 22nd. Finally, Zacks Research cut Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.