Wall Street Zen Downgrades Universal Display (NASDAQ:OLED) to Sell

Universal Display (NASDAQ:OLED) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

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

Universal Display Stock Performance

Universal Display stock opened at $124.90 on Friday. Universal Display has a fifty-two week low of $103.70 and a fifty-two week high of $164.29. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 3.51 and a beta of 1.63. The stock has a fifty day moving average of $120.18 and a two-hundred day moving average of $131.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Universal Display in the 2nd quarter worth about $124,480,000. Vanguard Group Inc. increased its position in Universal Display by 10.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock worth $728,076,000 after purchasing an additional 460,792 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Universal Display by 86.4% in the fourth quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock valued at $102,846,000 after buying an additional 408,315 shares during the period. Primecap Management Co. CA raised its holdings in Universal Display by 20.7% in the second quarter. Primecap Management Co. CA now owns 2,215,308 shares of the semiconductor company’s stock valued at $342,176,000 after buying an additional 379,586 shares during the period. Finally, UBS Group AG lifted its position in Universal Display by 100.8% during the fourth quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock valued at $75,532,000 after buying an additional 324,677 shares in the last quarter. Institutional investors and hedge funds 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.