Zacks Investment Research upgraded shares of LG Display (NYSE:LPL) from a hold rating to a buy rating in a report issued on Wednesday, Zacks.com reports. They currently have $7.75 price target on the electronics maker’s stock.
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 also recently weighed in on the company. Daiwa Capital Markets downgraded LG Display from an outperform rating to a neutral rating in a research note on Wednesday, April 24th. HSBC raised United Microelectronics from a reduce rating to a hold rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. LG Display has a consensus rating of Hold and an average price target of $7.75.
Shares of NYSE:LPL opened at $7.18 on Wednesday. LG Display has a 12-month low of $6.71 and a 12-month high of $10.39. The firm has a 50 day moving average of $7.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.98 and a quick ratio of 0.71.
LG Display (NYSE:LPL) last announced its quarterly earnings results on Wednesday, May 15th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.08. LG Display had a negative return on equity of 1.46% and a negative net margin of 0.87%. The company had revenue of $5.29 billion during the quarter. On average, sell-side analysts anticipate that LG Display will post -0.34 EPS for the current year.
Several hedge funds have recently made changes to their positions in LPL. Parametric Portfolio Associates LLC raised its stake in shares of LG Display by 23.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 1,877,619 shares of the electronics maker’s stock worth $16,241,000 after buying an additional 362,688 shares during the period. SG Americas Securities LLC acquired a new position in shares of LG Display during the 1st quarter worth approximately $2,078,000. NINE MASTS CAPITAL Ltd raised its stake in shares of LG Display by 38.5% during the 4th quarter. NINE MASTS CAPITAL Ltd now owns 255,050 shares of the electronics maker’s stock worth $2,089,000 after buying an additional 70,922 shares during the period. Highbridge Capital Management LLC raised its stake in shares of LG Display by 18.9% during the 4th quarter. Highbridge Capital Management LLC now owns 237,742 shares of the electronics maker’s stock worth $1,947,000 after buying an additional 37,742 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of LG Display during the 1st quarter worth approximately $307,000. 2.75% of the stock is owned by institutional investors and hedge funds.
LG Display Company Profile
LG Display Co, Ltd. manufactures and sells thin-film transistor liquid crystal display and organic light-emitting diode (OLED) technology-based display panels in the Republic of Korea, China, Europe, rest of Asia, the United States, and internationally. It offers various display panels primarily for use in televisions, notebook computers, desktop monitors, tablet computers, and mobile devices.
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