Citigroup Cuts Universal Display (NASDAQ:OLED) Price Target to $130.00

Universal Display (NASDAQ:OLED) had its target price cut by research analysts at Citigroup from $150.00 to $130.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s target price would indicate a potential upside of 10.38% from the company’s previous close.

Other analysts have also issued reports about the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a research report on Wednesday, December 24th. Needham & Company LLC restated a “buy” rating and issued a $150.00 price objective on shares of Universal Display in a research report on Monday, December 22nd. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Zacks Research lowered Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $171.20.

Universal Display Price Performance

Shares of OLED stock traded up $0.20 during trading on Tuesday, reaching $117.77. The company’s stock had a trading volume of 448,728 shares, compared to its average volume of 574,611. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 3.38 and a beta of 1.62. Universal Display has a 1-year low of $103.70 and a 1-year high of $164.29. The stock’s 50-day moving average price is $119.00 and its 200 day moving average price is $134.14.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.27). The company had revenue of $139.61 million for the quarter, compared to analysts’ expectations of $165.56 million. Universal Display had a return on equity of 14.10% and a net margin of 34.65%.The firm’s revenue was down 13.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.40 EPS. On average, sell-side analysts anticipate that Universal Display will post 4.71 EPS for the current fiscal year.

Institutional Trading of Universal Display

Several hedge funds and other institutional investors have recently bought and sold shares of OLED. Vanguard Group Inc. boosted its stake in Universal Display by 10.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock valued at $728,076,000 after purchasing an additional 460,792 shares during the period. Primecap Management Co. CA grew its stake in shares of Universal Display by 1.9% in the 3rd quarter. Primecap Management Co. CA now owns 2,258,378 shares of the semiconductor company’s stock worth $324,371,000 after purchasing an additional 43,070 shares during the last quarter. Norges Bank acquired a new stake in shares of Universal Display during the second quarter worth $124,480,000. Greenhouse Funds LLLP lifted its position in shares of Universal Display by 12.6% in the 3rd quarter. Greenhouse Funds LLLP now owns 725,278 shares of the semiconductor company’s stock valued at $104,172,000 after acquiring an additional 81,132 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Universal Display by 14.9% in the 2nd quarter. First Trust Advisors LP now owns 699,412 shares of the semiconductor company’s stock worth $108,031,000 after purchasing an additional 90,766 shares during the period. 78.19% of the stock is owned by institutional investors.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.