Universal Display (NASDAQ:OLED) Sets New 52-Week Low – What’s Next?

Universal Display Co. (NASDAQ:OLED)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $142.15 and last traded at $145.55, with a volume of 43493 shares trading hands. The stock had previously closed at $149.92.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OLED. Needham & Company LLC reiterated a “buy” rating and set a $215.00 price objective on shares of Universal Display in a research report on Thursday, January 16th. Oppenheimer decreased their price target on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 2nd. Finally, TD Cowen cut their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Universal Display presently has an average rating of “Moderate Buy” and an average target price of $212.50.

Universal Display Stock Performance

The company has a market cap of $6.84 billion, a P/E ratio of 28.96, a P/E/G ratio of 1.64 and a beta of 1.39. The stock has a 50 day moving average price of $153.36 and a 200 day moving average price of $180.54.

Institutional Trading of Universal Display

Several institutional investors and hedge funds have recently added to or reduced their stakes in OLED. Assetmark Inc. acquired a new stake in shares of Universal Display during the third quarter worth $29,000. Brooklyn Investment Group acquired a new position in shares of Universal Display in the third quarter worth about $30,000. V Square Quantitative Management LLC purchased a new position in shares of Universal Display in the third quarter worth approximately $31,000. True Wealth Design LLC acquired a new stake in shares of Universal Display during the third quarter valued at approximately $36,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Universal Display by 60.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 65 shares in the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

About Universal Display

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.