Universal Display (NASDAQ:OLED) Reaches New 52-Week Low After Analyst Downgrade

Universal Display Co. (NASDAQ:OLED)’s stock price reached a new 52-week low 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. The stock had previously closed at $142.83.

A number of other brokerages also recently weighed in on OLED. The Goldman Sachs Group lowered their target price on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Oppenheimer cut their target price on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. TD Cowen reduced their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $215.00 price objective on shares of Universal Display in a research report on Thursday, January 16th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $199.57.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Park Avenue Securities LLC increased its position in Universal Display by 33.1% during the third quarter. Park Avenue Securities LLC now owns 1,437 shares of the semiconductor company’s stock valued at $302,000 after acquiring an additional 357 shares during the last quarter. CWM LLC lifted its stake in Universal Display by 390.9% in the 3rd quarter. CWM LLC now owns 5,586 shares of the semiconductor company’s stock worth $1,173,000 after purchasing an additional 4,448 shares in the last quarter. UMB Bank n.a. boosted its stake in Universal Display by 42.1% during the third quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock valued at $68,000 after buying an additional 96 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in shares of Universal Display by 64.0% in the third quarter. Koshinski Asset Management Inc. now owns 1,948 shares of the semiconductor company’s stock valued at $409,000 after purchasing an additional 760 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of Universal Display by 16.1% in the 3rd quarter. Creative Planning now owns 15,406 shares of the semiconductor company’s stock worth $3,234,000 after buying an additional 2,132 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

The business has a 50-day simple moving average of $150.97 and a 200-day simple moving average of $177.17. The firm has a market capitalization of $6.78 billion, a PE ratio of 28.70, a P/E/G 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.