Peregrine’s OLED Exit: A Curious Case

Now, Peregrine Investment Management, a firm so small it could probably fit inside a particularly large teapot, has done a most peculiar thing. They’ve chucked out all their shares in Universal Display – every single one! Fifty thousand, five hundred and sixty shares, gone like sweets from a child’s pocket. This represents a tidy sum – around $7.26 million, enough to buy a small island, or perhaps a very large collection of rubber ducks.

The clever sorts at Peregrine clearly decided Universal Display wasn’t doing the jig they wanted it to. It was 3.6% of their portfolio a quarter ago, now…poof! Vanished. They’ve gone from being a shareholder to looking at it like a rather dusty old toy they’ve outgrown. A complete liquidation, they call it. Sounds rather dramatic, doesn’t it?

But what are they holding onto instead? Well, it seems they’ve a fondness for SiTime Corp. ($11.84 million), Astera Labs ($11.35 million), and a rather large pile of MongoDB ($10.97 million). Sociedad Quimica y Minera de Chile SA and even Amazon are getting a slice of the pie. A curious mix, if you ask me, like a goblin’s shopping list.

Now, Universal Display hasn’t been having the best of times. The share price tumbled a rather alarming 18% over the past year, lagging far behind the S&P 500. It’s like a little boat being tossed about in a stormy sea. They’re down, but not out. They still churn out those fancy OLED screens – the ones that make your televisions look like magic windows. And they’ve got patents coming out of their ears – over 5,500, in fact! That’s a lot of scribbled ideas on paper, enough to build a small fort.

As of February 3rd, 2026, Universal Display shares were trading at $117.24. Not a terrible price, but not exactly soaring through the clouds either. Peregrine, meanwhile, had $161.04 million under management, spread across 19 holdings. A small pond compared to the vast ocean of global finance, but they’re swimming nonetheless.

Universal Display made $639.98 million in revenue over the last year. A substantial amount, enough to fill several swimming pools with gold coins. They earned $221.56 million in profit, which is…well, a lot of money. They’re not exactly broke, you see.

Here’s a little table for the number-crunchers:

Metric	Value
Price (Feb. 3, 2026)	$117.24
Market Capitalization	$5.68 billion
Revenue (TTM)	$639.98 million
Net Income (TTM)	$221.56 million

They make these OLEDs – Organic Light Emitting Diodes – which are, essentially, tiny little lights that create pictures on screens. It’s clever stuff, really. They sell the materials and license the technology. It’s a bit like selling the ingredients and instructions for a magical potion.

But back to Peregrine. They weren’t just ditching OLEDs. They also dumped a large chunk of Circle Internet Group, a payment technology firm. Their assets under management dipped by a whopping $42.5 million – nearly 20%! A rather significant wobble, wouldn’t you say? It’s as if someone poked a hole in their financial balloon.

Universal Display had a rather glum end to 2025, losing almost 20% of its stock price. Their third-quarter earnings were…disappointing. Sales were down 14%, and earnings plummeted 34%. A bit like a birthday cake that’s been sat in the rain.

However, they’ve agreed to acquire OLED patent assets from Merck KGaA. A portfolio with an average remaining lifetime of 10 years and over 300 patents. It’s like finding a treasure map, isn’t it? A little bit of hope for the future.

Peregrine’s decision might simply be a strategic shift. The stock has underperformed for years. They’re probably looking for something a little more…sparkly. Universal Display will report its earnings on February 19th. We’ll see if they can conjure up a little magic.

2026-02-19 23:32

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