Universal Display (NASDAQ:OLED) Sets New 52-Week Low Following Analyst Downgrade

Shares of Universal Display Co. (NASDAQ:OLED) 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. The stock had previously closed at $142.83.

A number of other brokerages have also recently commented on OLED. TD Cowen cut their price target 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. Needham & Company LLC reiterated a “buy” rating and set a $215.00 price objective on shares of Universal Display in a report on Thursday, January 16th. The Goldman Sachs Group dropped their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Oppenheimer decreased their price objective on 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 given a buy rating to the company. According to data from MarketBeat, Universal Display currently has a consensus rating of “Moderate Buy” and an average price target of $199.57.

Institutional Investors Weigh In On Universal Display

A number of institutional investors have recently added to or reduced their stakes in OLED. Park Avenue Securities LLC lifted its holdings 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 worth $302,000 after acquiring an additional 357 shares during the period. CWM LLC raised its holdings in shares of 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 during the period. UMB Bank n.a. grew its stake in shares of Universal Display by 42.1% during the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock worth $68,000 after acquiring an additional 96 shares during the period. Koshinski Asset Management Inc. raised its stake in Universal Display by 64.0% in the 3rd quarter. Koshinski Asset Management Inc. now owns 1,948 shares of the semiconductor company’s stock valued at $409,000 after acquiring an additional 760 shares during the period. Finally, Creative Planning lifted its holdings in Universal Display by 16.1% during the third quarter. Creative Planning now owns 15,406 shares of the semiconductor company’s stock valued at $3,234,000 after purchasing an additional 2,132 shares during the last quarter. 78.19% of the stock is owned by institutional investors.

Universal Display Stock Down 0.7 %

The business’s 50-day simple moving average is $151.43 and its two-hundred day simple moving average is $177.73. The stock has a market cap of $6.73 billion, a P/E ratio of 28.51, a price-to-earnings-growth 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.