Universal Display (NASDAQ:OLED) Sets New 12-Month Low – Here’s Why

Universal Display Co. (NASDAQ:OLED)’s share price reached a new 52-week low on Tuesday . The company traded as low as $143.06 and last traded at $142.60, with a volume of 199597 shares trading hands. The stock had previously closed at $150.26.

Analyst Ratings Changes

A number of equities research analysts have weighed in on OLED shares. Oppenheimer reduced their price objective on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 2nd. TD Cowen reduced their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $215.00 price target on shares of Universal Display in a research note on Thursday, January 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and an average target price of $212.50.

Universal Display Trading Up 3.5 %

The firm’s fifty day moving average is $153.73 and its 200 day moving average is $181.80. The stock has a market cap of $7.18 billion, a P/E ratio of 30.40, a P/E/G ratio of 1.62 and a beta of 1.40.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.21. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. During the same period last year, the firm posted $1.08 EPS. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. Research analysts forecast that Universal Display Co. will post 4.77 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Lawrence Lacerte acquired 742 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were purchased at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the acquisition, the director now directly owns 122,372 shares in the company, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Universal Display

Several hedge funds and other institutional investors have recently made changes to their positions in OLED. Jennison Associates LLC raised 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 worth $99,975,000 after purchasing an additional 251,557 shares during the last quarter. Citigroup Inc. increased its position in shares of 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 in the last quarter. Raymond James & Associates raised its position 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 buying an additional 232,503 shares during the last quarter. Barclays PLC grew its holdings in shares of Universal Display by 753.8% in the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock valued at $44,608,000 after acquiring an additional 187,627 shares in the last quarter. Finally, Southpoint Capital Advisors LP raised its stake in shares of Universal Display by 46.0% during the 3rd quarter. Southpoint Capital Advisors LP now owns 365,000 shares of the semiconductor company’s stock worth $76,614,000 after purchasing an additional 115,000 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

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.