Peregrine Investment Management Fully Liquidates Universal Display Shares
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 19 2026
0mins
Should l Buy OLED?
Source: NASDAQ.COM
- Complete Liquidation: Peregrine Investment Management disclosed in a February 4, 2026 SEC filing that it fully liquidated its 50,560 shares of Universal Display, with an estimated transaction value of $7.26 million, reducing its stake from 3.6% to 0%, indicating a significant loss of confidence in the stock.
- Performance Decline: Universal Display reported a disappointing fourth-quarter performance in 2025, with sales down 14% year-over-year and earnings declining by 34%, which may have influenced Peregrine's decision to divest, reflecting challenges in the company's competitive position.
- Patent Acquisition Progress: Despite performance pressures, Universal Display announced in November its agreement to acquire OLED patent assets from Merck KGaA, with an average remaining lifetime of approximately 10 years for the patents, demonstrating the company's ongoing commitment to innovation and potential future growth.
- Asset Management Shrinkage: Peregrine's assets under management decreased by $42.5 million, or about 20%, in the fourth quarter of 2025, suggesting a need for a strategic reassessment of its investment portfolio, with Universal Display's underperformance likely prompting this reevaluation.
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Analyst Views on OLED
Wall Street analysts forecast OLED stock price to rise
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 89.130
Low
150.00
Averages
174.75
High
194.00
Current: 89.130
Low
150.00
Averages
174.75
High
194.00
About OLED
Universal Display Corporation is engaged in the research, development and commercialization of organic light-emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. OLED displays can be used in the mobile phone, television, monitor, wearable, tablet, notebook and personal computer, augmented reality (AR), virtual reality (VR) and automotive markets. It has an intellectual property portfolio surrounding its existing PHOLED technologies and materials for both displays and lighting products, which the Company markets under the UniversalPHOLED brand. It licenses its proprietary technologies, including UniversalPHOLED phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers UniversalPHOLED materials. Its additional OLED technologies include FOLED Flexible OLEDs and OVJP Organic Vapor Jet Printing.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Technology Showcase: UDC will highlight its latest advancements in OLED emissive layer technology at the International Conference on Display Technology (ICDT 2026) in Chongqing from March 31 to April 3, 2026, aiming to enhance OLED performance and drive future developments.
- Key Presentation: UDC's Principal Technologist Dr. Zhaoqun Zhou will deliver a technical presentation on April 2, 2026, discussing how PHOLED materials enable low-power OLED displays with excellent color performance and long operational lifetimes, emphasizing their critical role in next-generation OLED products.
- 10th Anniversary Celebration: ICDT 2026 marks the 10th anniversary of the conference, with UDC participating as a Gold-Level sponsor, highlighting its long-standing collaboration with China's OLED academic and industry community, thereby reinforcing its leadership position in the sector.
- Industry Outlook: UDC CEO Steven V. Abramson noted that as technology advances rapidly and AI proliferates, the importance of display technology in consumer electronics is increasing, and UDC's materials and technologies will drive efficiency improvements in OLED architectures, unlocking new market opportunities.
See More
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- Share Increase: According to a SEC filing dated February 17, 2026, Numerai GP increased its stake in Universal Display Corporation (OLED) by 71,257 shares during Q4 2025, with an estimated transaction value of approximately $9.24 million, indicating confidence in OLED's future growth potential.
- Holding Proportion Rise: Following this purchase, Numerai GP's total holdings in OLED reached 75,391 shares, valued at $8.80 million, representing 1.06% of its assets under management, reflecting the firm's increasing commitment to OLED.
- Market Performance Analysis: Despite a 35% decline in OLED's stock price over the past year, Universal Display generated a record revenue of $650.6 million in 2025, demonstrating solid profitability even amid a slower electronics market.
- Promising Technology Outlook: Universal Display focuses on R&D for next-generation materials, with management highlighting future demand drivers such as foldable displays and augmented reality devices, which could present long-term growth opportunities for the company.
See More
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- Long-Term Partnership: UDC has extended its OLED material supply and license agreements with LG Display, building on over 20 years of successful collaboration, which reinforces their shared vision to accelerate OLED innovation and expand next-generation display applications globally.
- Technical Support Assurance: Under the agreements, UDC will continue supplying its industry-leading UniversalPHOLED® materials and OLED technologies through its wholly owned subsidiary, UDC Ireland Limited, ensuring cutting-edge support for LG Display's OLED product roadmap.
- Industry Milestone: UDC's CEO Steven V. Abramson stated that the extension of these agreements marks another important milestone in their partnership, which has continuously pushed the boundaries of OLED technology and fostered industry growth.
- Patent Technology Advantage: UDC holds over 7,000 patents worldwide, focusing on its high-efficiency UniversalPHOLED® technology aimed at developing energy-efficient and eco-friendly display and solid-state lighting solutions, further solidifying its leadership position in the OLED market.
See More
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- Tariff Ruling Impact: The Supreme Court's decision to strike down Trump's global tariffs led to a 0.4% decline in the Russell 2000, indicating negative sentiment towards small-cap stocks while boosting internationally exposed equities.
- Legal Basis: The Court ruled that the International Emergency Economic Powers Act does not grant the president the authority to impose tariffs, emphasizing that only Congress holds this power during peacetime, leaving unresolved issues regarding over $130 billion in tariffs already collected.
- Market Reaction: The ruling intensifies competitive pressures on small-cap firms that previously benefited from elevated import duties, reflecting investor concerns about domestic economic stability amid increasing foreign competition.
- Macroeconomic Context: The U.S. GDP growth rate for Q4 2025 was just 1.4%, significantly below the expected 3%, while the Personal Consumption Expenditures index rose by 0.4%, indicating rising inflationary pressures that further affect market sentiment.
See More
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- Record Financial Performance: Universal Display Corporation achieved a record revenue of $651 million in 2025, with operating income of $249 million and net income of $242 million, translating to $5.08 per diluted share, showcasing strong execution and customer engagement in the OLED market.
- R&D and Market Opportunities: The company continues to invest in R&D, with global OLED shipments projected to exceed 1.4 billion units by 2030, particularly in IT, automotive, and foldable devices, marking a new phase for the industry.
- Shareholder Returns and Dividend Increase: The company repurchased approximately 454,000 shares for $53 million and raised the quarterly cash dividend to $0.50 per share, reflecting confidence in future growth opportunities and commitment to shareholders.
- 2026 Outlook: Revenue for 2026 is expected to range between $650 million and $700 million, with slightly lower gross margins anticipated due to rising raw material costs, yet management remains confident in the commercial potential of blue OLED technology.
See More
Peregrine Investment Management Fully Liquidates OLED Position
- Full Liquidation: Peregrine Investment Management disclosed on February 4, 2026, that it fully liquidated its position in Universal Display by divesting 50,560 shares valued at $7.26 million, reducing its stake from 3.6% to 0% of its portfolio.
- AUM Decline: This liquidation resulted in a decrease in Peregrine's 13F assets under management (AUM) from $161.04 million, reflecting an overall drop of $42.5 million, or about 20%, in the firm's total assets during the fourth quarter of 2025.
- Performance Decline: Universal Display faced a challenging end to 2025, with a 14% year-over-year decline in sales and a 34% drop in net income, alongside an almost 20% decrease in stock price during the last quarter, indicating weakened market competitiveness.
- Strategic Shift: Despite Peregrine's liquidation, Universal Display is actively pursuing the acquisition of OLED patent assets from Merck KGaA, which is expected to enhance its technological capabilities and potentially improve performance in the future.
See More
UDC Sponsors ICDT 2026, Showcasing OLED Innovations
- Technology Showcase: UDC will highlight its latest advancements in OLED emissive layer technology at the International Conference on Display Technology (ICDT 2026) in Chongqing from March 31 to April 3, 2026, aiming to enhance OLED performance and drive future developments.
- Key Presentation: UDC's Principal Technologist Dr. Zhaoqun Zhou will deliver a technical presentation on April 2, 2026, discussing how PHOLED materials enable low-power OLED displays with excellent color performance and long operational lifetimes, emphasizing their critical role in next-generation OLED products.
- 10th Anniversary Celebration: ICDT 2026 marks the 10th anniversary of the conference, with UDC participating as a Gold-Level sponsor, highlighting its long-standing collaboration with China's OLED academic and industry community, thereby reinforcing its leadership position in the sector.
- Industry Outlook: UDC CEO Steven V. Abramson noted that as technology advances rapidly and AI proliferates, the importance of display technology in consumer electronics is increasing, and UDC's materials and technologies will drive efficiency improvements in OLED architectures, unlocking new market opportunities.
See More
Numerai GP Increases OLED Stake to Top Position
- Share Increase: According to a SEC filing dated February 17, 2026, Numerai GP increased its stake in Universal Display Corporation (OLED) by 71,257 shares during Q4 2025, with an estimated transaction value of approximately $9.24 million, indicating confidence in OLED's future growth potential.
- Holding Proportion Rise: Following this purchase, Numerai GP's total holdings in OLED reached 75,391 shares, valued at $8.80 million, representing 1.06% of its assets under management, reflecting the firm's increasing commitment to OLED.
- Market Performance Analysis: Despite a 35% decline in OLED's stock price over the past year, Universal Display generated a record revenue of $650.6 million in 2025, demonstrating solid profitability even amid a slower electronics market.
- Promising Technology Outlook: Universal Display focuses on R&D for next-generation materials, with management highlighting future demand drivers such as foldable displays and augmented reality devices, which could present long-term growth opportunities for the company.
See More
UDC Extends OLED Material Agreements with LG Display
- Long-Term Partnership: UDC has extended its OLED material supply and license agreements with LG Display, building on over 20 years of successful collaboration, which reinforces their shared vision to accelerate OLED innovation and expand next-generation display applications globally.
- Technical Support Assurance: Under the agreements, UDC will continue supplying its industry-leading UniversalPHOLED® materials and OLED technologies through its wholly owned subsidiary, UDC Ireland Limited, ensuring cutting-edge support for LG Display's OLED product roadmap.
- Industry Milestone: UDC's CEO Steven V. Abramson stated that the extension of these agreements marks another important milestone in their partnership, which has continuously pushed the boundaries of OLED technology and fostered industry growth.
- Patent Technology Advantage: UDC holds over 7,000 patents worldwide, focusing on its high-efficiency UniversalPHOLED® technology aimed at developing energy-efficient and eco-friendly display and solid-state lighting solutions, further solidifying its leadership position in the OLED market.
See More
Supreme Court Strikes Down Trump's Tariffs, Impacting Markets
- Tariff Ruling Impact: The Supreme Court's decision to strike down Trump's global tariffs led to a 0.4% decline in the Russell 2000, indicating negative sentiment towards small-cap stocks while boosting internationally exposed equities.
- Legal Basis: The Court ruled that the International Emergency Economic Powers Act does not grant the president the authority to impose tariffs, emphasizing that only Congress holds this power during peacetime, leaving unresolved issues regarding over $130 billion in tariffs already collected.
- Market Reaction: The ruling intensifies competitive pressures on small-cap firms that previously benefited from elevated import duties, reflecting investor concerns about domestic economic stability amid increasing foreign competition.
- Macroeconomic Context: The U.S. GDP growth rate for Q4 2025 was just 1.4%, significantly below the expected 3%, while the Personal Consumption Expenditures index rose by 0.4%, indicating rising inflationary pressures that further affect market sentiment.
See More
Universal Display Corporation Reports Record 2025 Earnings and 2026 Outlook
- Record Financial Performance: Universal Display Corporation achieved a record revenue of $651 million in 2025, with operating income of $249 million and net income of $242 million, translating to $5.08 per diluted share, showcasing strong execution and customer engagement in the OLED market.
- R&D and Market Opportunities: The company continues to invest in R&D, with global OLED shipments projected to exceed 1.4 billion units by 2030, particularly in IT, automotive, and foldable devices, marking a new phase for the industry.
- Shareholder Returns and Dividend Increase: The company repurchased approximately 454,000 shares for $53 million and raised the quarterly cash dividend to $0.50 per share, reflecting confidence in future growth opportunities and commitment to shareholders.
- 2026 Outlook: Revenue for 2026 is expected to range between $650 million and $700 million, with slightly lower gross margins anticipated due to rising raw material costs, yet management remains confident in the commercial potential of blue OLED technology.
See More
Peregrine Investment Management Fully Liquidates OLED Position
- Full Liquidation: Peregrine Investment Management disclosed on February 4, 2026, that it fully liquidated its position in Universal Display by divesting 50,560 shares valued at $7.26 million, reducing its stake from 3.6% to 0% of its portfolio.
- AUM Decline: This liquidation resulted in a decrease in Peregrine's 13F assets under management (AUM) from $161.04 million, reflecting an overall drop of $42.5 million, or about 20%, in the firm's total assets during the fourth quarter of 2025.
- Performance Decline: Universal Display faced a challenging end to 2025, with a 14% year-over-year decline in sales and a 34% drop in net income, alongside an almost 20% decrease in stock price during the last quarter, indicating weakened market competitiveness.
- Strategic Shift: Despite Peregrine's liquidation, Universal Display is actively pursuing the acquisition of OLED patent assets from Merck KGaA, which is expected to enhance its technological capabilities and potentially improve performance in the future.
See More
