Universal Display (NASDAQ:OLED) Reaches New 1-Year Low – Here’s Why

Universal Display Co. (NASDAQ:OLED)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $142.15 and last traded at $145.55, with a volume of 43493 shares changing hands. The stock had previously closed at $149.92.

Analysts Set New Price Targets

Several research firms have commented on OLED. Oppenheimer lowered 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. Needham & Company LLC restated a “buy” rating and set a $215.00 price objective on shares of Universal Display in a report on Thursday, January 16th. Finally, TD Cowen reduced their target price on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Universal Display presently has an average rating of “Moderate Buy” and a consensus price target of $212.50.

Universal Display Price Performance

The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 1.64 and a beta of 1.39. The business’s 50-day moving average price is $152.51 and its 200 day moving average price is $179.47.

Institutional Trading of Universal Display

A number of hedge funds and other institutional investors have recently modified their holdings of OLED. Glenmede Trust Co. NA lifted its position in shares of Universal Display by 1.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock worth $1,269,000 after buying an additional 97 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Universal Display by 8.8% during the third quarter. BNP Paribas Financial Markets now owns 52,713 shares of the semiconductor company’s stock worth $11,064,000 after acquiring an additional 4,269 shares during the period. Montanaro Asset Management Ltd lifted its holdings in Universal Display by 217.4% in the third quarter. Montanaro Asset Management Ltd now owns 63,260 shares of the semiconductor company’s stock worth $13,278,000 after acquiring an additional 43,330 shares during the last quarter. Cerity Partners LLC boosted its stake in Universal Display by 385.2% in the third quarter. Cerity Partners LLC now owns 8,588 shares of the semiconductor company’s stock valued at $1,803,000 after acquiring an additional 6,818 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Universal Display by 625.9% during the third quarter. Janney Montgomery Scott LLC now owns 40,989 shares of the semiconductor company’s stock valued at $8,604,000 after purchasing an additional 35,342 shares during the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Company Profile

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.