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

Universal Display (NASDAQ:OLED - Get Free Report) had its price objective lowered by investment analysts at Citigroup from $200.00 to $162.00 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 would suggest a potential upside of 12.92% from the company's current price.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group dropped their price target on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Oppenheimer reduced their price target on Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Thursday, January 2nd. TD Cowen cut their price objective on Universal Display from $250.00 to $225.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $215.00 price target on shares of Universal Display in a research note on Thursday, January 16th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Universal Display has an average rating of "Moderate Buy" and a consensus target price of $199.57.

Universal Display Price Performance

Shares of NASDAQ:OLED traded up $1.02 during trading on Monday, reaching $143.47. The company had a trading volume of 178,812 shares, compared to its average volume of 664,438. Universal Display has a fifty-two week low of $140.17 and a fifty-two week high of $237.00. The stock's fifty day moving average price is $150.17 and its 200 day moving average price is $176.32. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 1.57 and a beta of 1.39.

Hedge Funds Weigh In On Universal Display

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in Universal Display in the 4th quarter valued at about $95,924,000. Raymond James Financial Inc. purchased a new position in shares of Universal Display during the fourth quarter valued at approximately $41,504,000. Jennison Associates LLC boosted its position in Universal Display by 58.2% during the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company's stock worth $99,975,000 after acquiring an additional 251,557 shares during the last quarter. Citigroup Inc. grew its stake in Universal Display by 1,387.6% in the 3rd quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company's stock worth $54,936,000 after acquiring an additional 244,129 shares during the period. Finally, Raymond James & Associates raised its holdings in Universal Display by 629.9% in the 3rd quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company's stock valued at $56,550,000 after acquiring an additional 232,503 shares during the last quarter. Hedge funds and other institutional investors 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.