Universal Display (NASDAQ:OLED) Reaches New 12-Month Low on Analyst Downgrade

Universal Display Co. (NASDAQ:OLED) shares reached a new 52-week low during trading on Monday after Citigroup lowered their price target on the stock from $200.00 to $162.00. Citigroup currently has a neutral rating on the stock. Universal Display traded as low as $141.41 and last traded at $141.98, with a volume of 43410 shares changing hands. The stock had previously closed at $142.83.

A number of other equities analysts have also weighed in on OLED. The Goldman Sachs Group decreased their target price on Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Needham & Company LLC reiterated 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 decreased their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Oppenheimer decreased their price objective on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.57.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its position in shares of Universal Display by 60.2% during the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 65 shares during the last quarter. CIBC Asset Management Inc grew its position in Universal Display by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company’s stock worth $215,000 after purchasing an additional 73 shares during the period. Arizona State Retirement System lifted its holdings in shares of Universal Display by 0.7% during the 4th quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company’s stock valued at $1,910,000 after buying an additional 88 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Universal Display by 0.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company’s stock worth $1,475,000 after buying an additional 90 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in shares of 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 acquiring an additional 97 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

The business has a 50-day moving average of $150.53 and a 200 day moving average of $176.56. The company has a market cap of $6.74 billion, a PE ratio of 28.52, a PEG ratio of 1.57 and a beta of 1.39.

Universal Display Company Profile

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.