Universal Display (NASDAQ:OLED) Price Target Lowered to $85.00 at Citigroup

Universal Display (NASDAQ:OLED) had its price objective cut by stock analysts at Citigroup from $100.00 to $85.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s price target would suggest a potential upside of 6.42% from the company’s previous close.

Several other equities analysts have also issued reports on OLED. Weiss Ratings lowered Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Needham & Company LLC decreased their target price on shares of Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Friday. Roth Capital set a $168.00 price target on Universal Display in a research report on Friday, May 1st. Susquehanna decreased their price objective on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday. Finally, BTIG Research cut Universal Display to a “neutral” rating in a research note on Friday. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $116.33.

Universal Display Stock Performance

Shares of OLED stock traded down $0.29 during mid-day trading on Monday, hitting $79.87. The company’s stock had a trading volume of 307,693 shares, compared to its average volume of 809,908. The company has a market cap of $3.73 billion, a PE ratio of 19.37 and a beta of 1.54. The company’s fifty day simple moving average is $85.44 and its 200-day simple moving average is $96.94. Universal Display has a 52 week low of $76.42 and a 52 week high of $153.38.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.03 by $0.03. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The company had revenue of $152.16 million for the quarter, compared to analyst estimates of $157.54 million. During the same quarter in the prior year, the company earned $1.41 EPS. The firm’s revenue for the quarter was down 11.4% compared to the same quarter last year. On average, equities analysts anticipate that Universal Display will post 4.2 earnings per share for the current year.

Hedge Funds Weigh In On Universal Display

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Focus Partners Wealth increased its position in shares of Universal Display by 6.4% during the 1st quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock valued at $513,000 after purchasing an additional 221 shares during the last quarter. American Century Companies Inc. lifted its position in Universal Display by 2.3% in the 2nd quarter. American Century Companies Inc. now owns 12,766 shares of the semiconductor company’s stock worth $1,972,000 after buying an additional 285 shares during the last quarter. Invesco Ltd. lifted its position in Universal Display by 1.8% in the 2nd quarter. Invesco Ltd. now owns 112,982 shares of the semiconductor company’s stock worth $17,451,000 after buying an additional 2,040 shares during the last quarter. Marshall Wace LLP purchased a new stake in Universal Display in the second quarter worth approximately $2,220,000. Finally, Cresset Asset Management LLC boosted its stake in Universal Display by 64.2% in the second quarter. Cresset Asset Management LLC now owns 2,512 shares of the semiconductor company’s stock worth $388,000 after buying an additional 982 shares in the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

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.