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

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

A number of other equities analysts also recently commented on the stock. The Goldman Sachs Group cut their price objective on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Oppenheimer cut their price target on shares of 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 reaffirmed a “buy” rating and issued a $215.00 price objective on shares of Universal Display in a report on Thursday, January 16th. Finally, TD Cowen cut their target price on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $199.57.

Universal Display Price Performance

Universal Display stock opened at $142.45 on Monday. The business has a 50 day simple moving average of $150.17 and a 200-day simple moving average of $176.32. Universal Display has a 12 month low of $140.17 and a 12 month high of $237.00. The stock has a market capitalization of $6.76 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 1.57 and a beta of 1.39.

Hedge Funds Weigh In On Universal Display

Several hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Universal Display in the fourth quarter valued at $95,924,000. Raymond James Financial Inc. acquired a new stake in Universal Display in the 4th quarter valued at about $41,504,000. Jennison Associates LLC increased its holdings in Universal Display by 58.2% during the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock valued at $99,975,000 after acquiring an additional 251,557 shares in the last quarter. Citigroup Inc. raised its position in Universal Display by 1,387.6% during the third 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 last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Universal Display by 629.9% in the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock valued at $56,550,000 after purchasing an additional 232,503 shares in 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.