Universal Display (NASDAQ:OLED) Price Target Cut to $162.00 by Analysts at Citigroup

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

Several other equities analysts also recently weighed in on OLED. Oppenheimer reduced their target price on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. TD Cowen cut their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. The Goldman Sachs Group lowered their target price on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a report on Thursday, February 6th. 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Universal Display presently has an average rating of “Moderate Buy” and an average price target of $199.57.

Universal Display Stock Up 0.3 %

Shares of Universal Display stock opened at $142.45 on Monday. Universal Display has a fifty-two week low of $140.17 and a fifty-two week high of $237.00. The business’s fifty day moving average is $150.17 and its two-hundred day moving average is $176.32. The firm has a market cap of $6.76 billion, a PE ratio of 28.60, a P/E/G ratio of 1.57 and a beta of 1.39.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Universal Display in the fourth quarter valued at about $95,924,000. Raymond James Financial Inc. purchased a new position in Universal Display in the 4th quarter worth approximately $41,504,000. Jennison Associates LLC grew its position in Universal Display by 58.2% in the fourth 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 stake 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 valued at $54,936,000 after purchasing an additional 244,129 shares during the period. Finally, Raymond James & Associates lifted its position in shares of Universal Display by 629.9% during the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock worth $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.

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.