Citigroup Lowers Universal Display (NASDAQ:OLED) Price Target to $100.00

Universal Display (NASDAQ:OLED) had its target price reduced by Citigroup from $105.00 to $100.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s target price points to a potential upside of 4.60% from the stock’s current price.

OLED has been the topic of a number of other reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a report on Monday, March 23rd. Needham & Company LLC dropped their price objective on Universal Display from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday. Wall Street Zen raised Universal Display from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Oppenheimer reduced their target price on Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Roth Mkm set a $168.00 price target on Universal Display in a research note on Friday. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $130.60.

Universal Display Stock Down 0.8%

Shares of NASDAQ:OLED traded down $0.79 during midday trading on Monday, hitting $95.61. The stock had a trading volume of 584,481 shares, compared to its average volume of 804,830. The company has a market cap of $4.47 billion, a P/E ratio of 21.43, a PEG ratio of 7.97 and a beta of 1.54. Universal Display has a 12 month low of $83.64 and a 12 month high of $163.21. The business’s 50-day simple moving average is $96.82 and its 200-day simple moving average is $114.76.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.37). Universal Display had a return on equity of 12.34% and a net margin of 34.08%.The firm had revenue of $142.21 million for the quarter, compared to the consensus estimate of $161.23 million. During the same period last year, the company posted $1.35 earnings per share. The business’s revenue was down 14.5% compared to the same quarter last year. As a group, equities analysts predict that Universal Display will post 4.73 earnings per share for the current year.

Institutional Investors Weigh In On Universal Display

Institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in Universal Display by 4,850.3% during the 1st quarter. Fifth Third Bancorp now owns 17,128 shares of the semiconductor company’s stock worth $1,570,000 after purchasing an additional 16,782 shares during the last quarter. Stiles Financial Services Inc increased its position in Universal Display by 56.4% during the 1st quarter. Stiles Financial Services Inc now owns 2,915 shares of the semiconductor company’s stock worth $267,000 after buying an additional 1,051 shares during the period. Money Concepts Capital Corp increased its position in Universal Display by 2.1% during the 1st quarter. Money Concepts Capital Corp now owns 14,902 shares of the semiconductor company’s stock worth $1,366,000 after buying an additional 303 shares during the period. Personal CFO Solutions LLC lifted its holdings in shares of Universal Display by 23.0% during the first quarter. Personal CFO Solutions LLC now owns 2,382 shares of the semiconductor company’s stock worth $218,000 after buying an additional 445 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Universal Display by 3.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 9,083 shares of the semiconductor company’s stock valued at $833,000 after acquiring an additional 300 shares during the period. Institutional investors own 78.19% of the company’s stock.

Universal Display Company Profile

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.