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

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

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

Universal Display Stock Down 1.5%

Universal Display stock opened at $124.90 on Friday. The business’s 50-day simple moving average is $120.18 and its 200 day simple moving average is $131.42. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 3.56 and a beta of 1.63. Universal Display has a 12-month low of $103.70 and a 12-month high of $164.29.

Institutional Investors Weigh In On Universal Display

A number of hedge funds have recently modified their holdings of OLED. Focus Partners Wealth grew its position in shares of Universal Display by 6.4% in the 1st quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock valued at $513,000 after purchasing an additional 221 shares during the period. Blair William & Co. IL lifted its stake in Universal Display by 5.1% in the second quarter. Blair William & Co. IL now owns 2,505 shares of the semiconductor company’s stock valued at $387,000 after buying an additional 122 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Universal Display in the second quarter valued at approximately $205,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Universal Display by 55.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,147 shares of the semiconductor company’s stock valued at $1,722,000 after buying an additional 3,960 shares during the period. Finally, TD Asset Management Inc bought a new stake in shares of Universal Display during the second quarter worth $1,421,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Company Profile

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.