LG Display (NYSE:LPL) Sets New 52-Week Low – Here’s What Happened

LG Display Co., Ltd. (NYSE:LPL) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $3.34 and last traded at $3.28, with a volume of 1826 shares traded. The stock had previously closed at $3.38.

Analyst Ratings Changes

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

LG Display Stock Down 2.8%

The business has a fifty day moving average price of $4.43 and a two-hundred day moving average price of $4.33. The company has a current ratio of 0.34, a quick ratio of 0.22 and a debt-to-equity ratio of 1.63. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -164.25 and a beta of 1.65.

LG Display (NYSE:LPL) last posted its quarterly earnings results on Friday, May 15th. The electronics maker reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.17). LG Display had a negative return on equity of 0.68% and a negative net margin of 0.18%.The company had revenue of $3.78 billion for the quarter. On average, equities analysts predict that LG Display Co., Ltd. will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On LG Display

A number of institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership acquired a new position in shares of LG Display in the third quarter worth $7,862,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in LG Display by 114.6% during 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 purchasing an additional 1,040,826 shares during the last quarter. Millennium Management LLC boosted its position in LG Display by 92.1% during the fourth quarter. Millennium Management LLC now owns 776,354 shares of the electronics maker’s stock valued at $3,268,000 after purchasing an additional 372,199 shares during the last quarter. Corient Private Wealth LLC grew its stake in LG Display by 125.0% in the fourth quarter. Corient Private Wealth LLC now owns 633,970 shares of the electronics maker’s stock valued at $2,667,000 after purchasing an additional 352,248 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in LG Display by 792.0% in the third quarter. Two Sigma Investments LP now owns 175,839 shares of the electronics maker’s stock valued at $918,000 after purchasing an additional 156,126 shares in 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.