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

Universal Display Co. (NASDAQ:OLED)’s share price hit 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. The stock had previously closed at $150.26.

Analysts Set New Price Targets

OLED has been the topic of several recent research reports. TD Cowen cut their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Oppenheimer reduced 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. Finally, 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. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.50.

Universal Display Stock Performance

The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 1.62 and a beta of 1.40. The company’s 50 day simple moving average is $154.81 and its 200 day simple moving average is $182.83.

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

Insiders Place Their Bets

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the stock in a transaction dated Monday, November 4th. The shares were bought at an average price of $180.89 per share, with a total value of $134,220.38. Following the purchase, the director now directly owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OLED. AQR Capital Management LLC grew its holdings in shares of Universal Display by 190.8% in the 2nd quarter. AQR Capital Management LLC now owns 62,723 shares of the semiconductor company’s stock worth $13,178,000 after acquiring an additional 41,154 shares during the last quarter. Creative Planning increased its stake in Universal Display by 3.5% in the 2nd quarter. Creative Planning now owns 13,274 shares of the semiconductor company’s stock worth $2,791,000 after purchasing an additional 445 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Universal Display during the 2nd quarter worth about $273,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Universal Display by 2.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 50,199 shares of the semiconductor company’s stock valued at $10,554,000 after buying an additional 1,073 shares in the last quarter. Finally, Curbstone Financial Management Corp boosted its holdings in shares of Universal Display by 7.7% in the third quarter. Curbstone Financial Management Corp now owns 2,810 shares of the semiconductor company’s stock worth $590,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

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.