Universal Display (NASDAQ:OLED) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Universal Display (NASDAQ:OLED) from a hold rating to a sell rating in a report published on Saturday morning.

A number of other research firms have also recently issued reports on OLED. Zacks Research cut shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Citigroup cut their target price on Universal Display from $150.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 27th. Needham & Company LLC restated a “buy” rating and set a $150.00 price target on shares of Universal Display in a report on Monday, December 22nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a report on Wednesday, December 24th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $163.25.

Universal Display Stock Down 1.5%

Shares of NASDAQ OLED opened at $124.90 on Friday. Universal Display has a 52 week low of $103.70 and a 52 week high of $164.29. The firm’s fifty day moving average is $120.24 and its 200 day moving average is $131.06. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 3.51 and a beta of 1.63.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OLED. Peregrine Investment Management Inc. raised its holdings in Universal Display by 24.7% in the third quarter. Peregrine Investment Management Inc. now owns 50,560 shares of the semiconductor company’s stock worth $7,262,000 after buying an additional 10,000 shares during the last quarter. Truist Financial Corp increased its position in shares of Universal Display by 54.7% during the third quarter. Truist Financial Corp now owns 63,262 shares of the semiconductor company’s stock valued at $9,086,000 after acquiring an additional 22,380 shares in the last quarter. Baker Avenue Asset Management LP bought a new stake in shares of Universal Display during the second quarter valued at approximately $1,398,000. Creative Planning raised its holdings in Universal Display by 12.7% in the 2nd quarter. Creative Planning now owns 19,847 shares of the semiconductor company’s stock worth $3,066,000 after acquiring an additional 2,239 shares during the last quarter. Finally, Avenir Corp lifted its position in Universal Display by 14.5% in the 2nd quarter. Avenir Corp now owns 223,150 shares of the semiconductor company’s stock valued at $34,468,000 after acquiring an additional 28,277 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

About Universal Display

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.