Citigroup Has Lowered Expectations for Universal Display (NASDAQ:OLED) Stock Price

Key Points

• Citigroup cut its price target on Universal Display from $130 to $105 and kept a "neutral" rating, a target that implies about a 7.6% upside from the stock's current level.
• Analyst views are mixed — two Buy and three Hold — with an average consensus rating of "Hold" and an average target price of $143.33, including divergence such as Roth MKM's $180 target and Needham's lowered $145 target.
• Shares traded down to $97.60 (‑2.9%) midday; the company recently beat EPS estimates ($1.39 vs. $1.28) with revenue roughly in line, and has a market cap of $4.6 billion and a P/E of 19.21.

Universal Display (NASDAQ:OLED - Get Free Report) had its price objective dropped by equities researchers at Citigroup from $130.00 to $105.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the semiconductor company's stock. Citigroup's price objective points to a potential upside of 7.58% from the stock's current price.

A number of other equities research analysts have also recently weighed in on OLED. Needham & Company LLC dropped their price objective on Universal Display from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, February 20th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Universal Display in a research note on Monday, March 23rd. Wall Street Zen raised shares of Universal Display from a "sell" rating to a "hold" rating in a research report on Sunday, February 22nd. Finally, Roth Mkm reissued a "buy" rating and issued a $180.00 price objective on shares of Universal Display in a research note on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Universal Display has an average rating of "Hold" and an average target price of $143.33.

Universal Display Trading Down 2.9%

Universal Display stock traded down $2.92 during midday trading on Tuesday, hitting $97.60. 115,060 shares of the stock were exchanged, compared to its average volume of 761,231. The stock's 50-day simple moving average is $103.57 and its 200 day simple moving average is $119.11. Universal Display has a fifty-two week low of $86.43 and a fifty-two week high of $163.21. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 7.87 and a beta of 1.65.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.11. The business had revenue of $172.93 million during the quarter, compared to analysts' expectations of $173.35 million. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. The business's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.22 EPS. Equities analysts anticipate that Universal Display will post 4.71 EPS for the current fiscal year.

Institutional Trading of Universal Display

Several institutional investors and hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in Universal Display by 309.8% in the third quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 158 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in Universal Display during the 3rd quarter valued at approximately $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Universal Display during the 3rd quarter worth approximately $37,000. Rise Advisors LLC grew its stake in shares of Universal Display by 53.3% in the 3rd quarter. Rise Advisors LLC now owns 299 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 104 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Universal Display by 27.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the semiconductor company's stock valued at $50,000 after purchasing an additional 75 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 NASDAQ: OLED is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display's core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.

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