Locking in Big Gains on This High-Flying Stock
We're ringing the register, but a bright outlook means we will continue to own a sizable position.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
OLED | Sell | 130 | 218.25 | 835 | 4.0 |
After you receive this Alert, we will sell 130 shares of Universal Display OLED at or near $218.25. Following the trade, OLED shares will account for roughly 4.0% of the portfolio’s assets.
Shares of Universal Display are moving higher yet again today following a price target increase to $250 from $200 at Oppenheimer as it now sees a stronger smartphone market this year and next. We view this as another firm coming around to what we’ve been sharing with you these last several months.
This latest push means OLED shares have soared almost 45% since mid-April, far higher than the 10% return in the S&P 500 over the same period. That outperformance has led the portfolio’s position in OLED shares to rise to ~4.7% of its assets, and that is leading us to do some very profitable register ringing.
We telegraphed yesterday this was likely to happen when we discussed why the outlook for Universal’s business and the shares remains very bright. While we could downgrade OLED shares to a Two rating because there is less than 5% upside to our $225 price target, we’re going to wait until we’ve digested Taiwan Semiconductor's TSM June revenue report as it may give us a reason to raise our OLED price target as well as a few others in the portfolio.
This sale will bring our cash levels back above 9%, giving us additional firepower for our portfolio shopping list.
More Pro Portfolio:
- Amazon's Spending Plans Prompt Us to Buy More Shares of This Position
- Weekly Roundup: Looking to the Second Half
- How the Latest Signals Are Impacting Our Portfolio Holdings
(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade's executed price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long OLED.
