Citigroup Has Lowered Expectations for Universal Display (NASDAQ:OLED) Stock Price

Universal Display (NASDAQ:OLED) had its price objective lowered by stock analysts at Citigroup from $150.00 to $130.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s target price points to a potential upside of 10.14% from the stock’s current price.

OLED has been the subject of several other research reports. Zacks Research cut shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price objective on shares of Universal Display in a report on Monday, December 22nd. Wall Street Zen raised Universal Display from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a research note on Wednesday, December 24th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $171.20.

Universal Display Stock Up 0.3%

Shares of NASDAQ:OLED opened at $118.03 on Tuesday. Universal Display has a 52-week low of $103.70 and a 52-week high of $164.29. The stock has a market cap of $5.61 billion, a P/E ratio of 25.44, a PEG ratio of 3.31 and a beta of 1.62. The business has a fifty day moving average of $119.27 and a two-hundred day moving average of $133.76.

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

Institutional Investors Weigh In On Universal Display

Institutional investors have recently modified their holdings of the company. Whittier Trust Co. acquired a new position in Universal Display during the 2nd quarter worth about $30,000. Parkside Financial Bank & Trust increased its stake in Universal Display by 236.7% during the second quarter. Parkside Financial Bank & Trust now owns 202 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 142 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Universal Display by 309.8% during the third quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 158 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Universal Display in the third quarter valued at approximately $33,000. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Universal Display in the second quarter valued at approximately $39,000. 78.19% of the stock is owned by institutional investors and hedge funds.

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.