LG Display (NYSE:LPL) Shares Down 7.9% – Here’s Why

LG Display Co., Ltd. (NYSE:LPL)’s share price dropped 7.9% on Wednesday . The company traded as low as $4.15 and last traded at $4.20. Approximately 461,398 shares were traded during trading, a decline of 46% from the average daily volume of 856,431 shares. The stock had previously closed at $4.56.

Analyst Upgrades and Downgrades

LPL has been the subject of a number of analyst reports. Zacks Research cut shares of LG Display from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 29th. Wall Street Zen raised shares of LG Display from a “hold” rating to a “buy” rating in a report on Sunday, February 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LG Display in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

LG Display Stock Performance

The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.46 and a current ratio of 0.73. The firm’s 50 day moving average is $4.31 and its 200-day moving average is $4.53. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 0.70 and a beta of 1.48.

LG Display (NYSE:LPL) last issued its quarterly earnings results on Friday, February 13th. The electronics maker reported ($0.14) earnings per share for the quarter. The company had revenue of $4.61 billion during the quarter. LG Display had a net margin of 0.98% and a return on equity of 3.26%. Sell-side analysts anticipate that LG Display Co., Ltd. will post 0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LG Display

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in shares of LG Display by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,826,043 shares of the electronics maker’s stock valued at $19,973,000 after purchasing an additional 15,767 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of LG Display by 114.6% in the 3rd 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 in the last quarter. American Century Companies Inc. increased its holdings in LG Display by 12.0% during the second quarter. American Century Companies Inc. now owns 1,510,470 shares of the electronics maker’s stock worth $5,166,000 after buying an additional 161,409 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in LG Display during the third quarter worth approximately $7,862,000. Finally, State Street Corp increased its holdings in shares of LG Display by 5.1% in the fourth quarter. State Street Corp now owns 804,268 shares of the electronics maker’s stock valued at $3,386,000 after purchasing an additional 38,755 shares during the last quarter.

About LG Display

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.