LG Display (NYSE:LPL) Shares Gap Up – Time to Buy?

LG Display Co., Ltd. (NYSE:LPL)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $3.26, but opened at $3.40. LG Display shares last traded at $3.3550, with a volume of 168,124 shares trading hands.

Analyst Ratings Changes

LPL has been the topic of a number of research analyst reports. Zacks Research upgraded shares of LG Display from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Weiss Ratings lowered shares of LG Display from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, LG Display presently has an average rating of “Reduce”.

LG Display Stock Performance

The firm’s 50 day moving average price is $4.31 and its 200-day moving average price is $4.31. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of -168.25 and a beta of 1.65. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.34 and a quick ratio of 0.22.

LG Display (NYSE:LPL) last released its earnings results on Wednesday, July 1st. The electronics maker reported ($0.26) EPS for the quarter. LG Display had a negative net margin of 0.18% and a negative return on equity of 0.68%. The company had revenue of $3.62 billion for the quarter. On average, analysts anticipate that LG Display Co., Ltd. will post -0.21 earnings per share for the current year.

Institutional Trading of LG Display

A number of institutional investors and hedge funds have recently modified their holdings of LPL. Dimensional Fund Advisors LP increased its stake in LG Display by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 3,826,043 shares of the electronics maker’s stock valued at $19,973,000 after acquiring an additional 15,767 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in LG Display by 114.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,948,975 shares of the electronics maker’s stock valued at $10,174,000 after acquiring an additional 1,040,826 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in LG Display in the third quarter valued at $7,862,000. State Street Corp raised its stake in LG Display by 5.1% during the fourth quarter. State Street Corp now owns 804,268 shares of the electronics maker’s stock worth $3,386,000 after acquiring an additional 38,755 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of LG Display by 92.1% during the 4th quarter. Millennium Management LLC now owns 776,354 shares of the electronics maker’s stock worth $3,268,000 after purchasing an additional 372,199 shares in the last quarter.

LG Display Company Profile

LG Display Co, Ltd., headquartered in Seoul, South Korea, is a global manufacturer of thin-film transistor liquid crystal display (TFT-LCD) and organic light-emitting diode (OLED) panels. The company designs and produces display solutions for a wide range of applications, including televisions, desktop monitors, notebook computers, tablets, smartphones, signage and automotive screens. Its product offerings span large-screen television modules, ultra-high definition monitors, flexible and transparent OLED displays, and specialized industrial panels.

LG Display operates a network of production facilities and research centers across Asia, including major manufacturing sites in Paju and Gumi, South Korea, as well as Wuhan, China.