Universal Display (NASDAQ:OLED) Hits New 1-Year Low After Analyst Downgrade

Universal Display Co. (NASDAQ:OLED - Get Free Report) hit a new 52-week low during trading on Monday after Citigroup lowered their price target on the stock from $200.00 to $162.00. Citigroup currently has a neutral rating on the stock. Universal Display traded as low as $141.41 and last traded at $141.98, with a volume of 43410 shares. The stock had previously closed at $142.83.

OLED has been the subject of several other research reports. Needham & Company LLC reiterated a "buy" rating and set a $215.00 target price on shares of Universal Display in a research note on Thursday, January 16th. TD Cowen cut 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 note on Thursday, October 31st. The Goldman Sachs Group dropped their price target on Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Finally, Oppenheimer reduced their target price on Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Universal Display by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company's stock worth $699,435,000 after acquiring an additional 67,590 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Universal Display by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company's stock valued at $131,806,000 after purchasing an additional 101,963 shares during the period. Jennison Associates LLC increased its stake in Universal Display by 58.2% during the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company's stock worth $99,975,000 after purchasing an additional 251,557 shares in the last quarter. Norges Bank acquired a new stake in Universal Display during the 4th quarter worth approximately $95,924,000. Finally, Van ECK Associates Corp lifted its stake in Universal Display by 27.2% in the third quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company's stock valued at $101,914,000 after buying an additional 108,394 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Up 0.8 %

The company's fifty day moving average price is $150.17 and its two-hundred day moving average price is $176.32. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 1.57 and a beta of 1.39.

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.