LG Display Co. (NYSE:LPL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “LG Display Co., Ltd., formerly known as LG Philips LCD Co., Ltd., primarily manufactures and sells thin film transistor liquid crystal display (TFT-LCD) panels. The Company supplies its products to original equipment manufacturers and multinational corporations. LG Display offers TFT-LCD panels in a range of sizes and specifications primarily for use in televisions, notebook computers, and desktop monitors, as well as for handheld application products, such as mobile phones; and medium and large size panels for industrial and other applications, including entertainment systems, portable navigation devices, e-paper, digital photo displays, and medical diagnostic equipment. LG Display Co., Ltd. is based in Seoul, the Republic of Korea. “
Several other research analysts have also recently weighed in on the stock. Bank of America Corp. raised shares of LG Display from a “neutral” rating to a “buy” rating in a report on Tuesday, July 19th. Credit Agricole SA raised LG Display from a “sell” rating to an “outperform” rating in a research note on Wednesday, July 6th. Sanford C. Bernstein cut LG Display from an “outperform” rating to a “market perform” rating and set a $13.18 target price on the stock. in a research note on Friday, September 9th. They noted that the move was a valuation call. Barclays PLC assumed coverage on LG Display in a research note on Tuesday, June 21st. They issued an “overweight” rating and a $14.00 target price on the stock. Finally, Nomura raised LG Display from a “reduce” rating to a “neutral” rating in a research note on Tuesday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $12.62.
LG Display (NYSE:LPL) opened at 12.87 on Wednesday. The company has a 50 day moving average of $13.40 and a 200 day moving average of $11.91. LG Display has a 1-year low of $8.43 and a 1-year high of $14.36. The firm has a market capitalization of $9.21 billion, a P/E ratio of 99.00 and a beta of 1.16.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Airain ltd bought a new position in shares of LG Display during the second quarter worth about $382,000. Emerald Acquisition Ltd. purchased a new stake in LG Display during the second quarter worth $3,904,000. World Asset Management Inc raised its stake in LG Display by 8.3% in the second quarter. World Asset Management Inc now owns 44,291 shares of the company’s stock worth $513,000 after buying an additional 3,400 shares in the last quarter. Columbus Circle Investors purchased a new stake in LG Display during the second quarter worth $1,513,000. Finally, Shelton Capital Management raised its stake in LG Display by 17.5% in the second quarter. Shelton Capital Management now owns 47,000 shares of the company’s stock worth $545,000 after buying an additional 7,000 shares in the last quarter. 3.34% of the stock is currently owned by hedge funds and other institutional investors.
LG Display Company Profile
LG Display Co, Ltd. manufactures thin-film transistor liquid crystal display (TFT-LCD), organic light emitting diode (OLED) and other display panel technologies. It manufactures display panels in a range of sizes and specifications primarily for use in televisions, notebook computers, desktop monitors, tablet computers and various other applications, including mobile devices.
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