Universal Display (NASDAQ:OLED) Price Target Lowered to $162.00 at Citigroup

Universal Display (NASDAQ:OLED) had its target price trimmed by Citigroup from $200.00 to $162.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

A number of other research analysts also recently issued reports on OLED. TD Cowen decreased their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $215.00 target price on shares of Universal Display in a research note on Thursday, January 16th. The Goldman Sachs Group reduced their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Oppenheimer lowered their price objective on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $199.57.

Universal Display Trading Up 0.1 %

OLED opened at $142.93 on Monday. The firm has a 50 day moving average of $150.97 and a two-hundred day moving average of $177.17. The firm has a market capitalization of $6.78 billion, a PE ratio of 28.70, a P/E/G ratio of 1.57 and a beta of 1.39. Universal Display has a 12-month low of $141.41 and a 12-month high of $237.00.

Institutional Investors Weigh In On Universal Display

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Universal Display by 1.9% in the third quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company’s stock worth $167,825,000 after acquiring an additional 15,015 shares during the last quarter. Jennison Associates LLC lifted its holdings in Universal Display by 58.2% in the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock valued at $99,975,000 after purchasing an additional 251,557 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Universal Display by 27.2% during the third quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock worth $101,914,000 after buying an additional 108,394 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Universal Display by 10.7% during the fourth quarter. Bank of New York Mellon Corp now owns 437,592 shares of the semiconductor company’s stock worth $63,976,000 after buying an additional 42,218 shares in the last quarter. Finally, Southpoint Capital Advisors LP raised its position in shares of Universal Display by 46.0% in the third quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock valued at $76,614,000 after buying an additional 115,000 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

About Universal Display

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.