Zacks Investment Research upgraded shares of LG Display (NYSE:LPL) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. They currently have $7.75 target price 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. “
Other analysts also recently issued reports about the company. HSBC upgraded United Microelectronics from a reduce rating to a hold rating in a report on Wednesday, April 24th. Daiwa Capital Markets lowered LG Display from an outperform rating to a neutral rating in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. LG Display currently has an average rating of Hold and an average price target of $7.75.
LPL stock opened at $7.18 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.98 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $7.24. LG Display has a 1-year low of $6.71 and a 1-year high of $10.39.
LG Display (NYSE:LPL) last released its quarterly earnings data on Wednesday, May 15th. The electronics maker reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.08. The firm had revenue of $5.29 billion during the quarter. LG Display had a negative return on equity of 1.46% and a negative net margin of 0.87%. On average, sell-side analysts anticipate that LG Display will post -0.34 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of LPL. Parametric Portfolio Associates LLC grew its stake in LG Display by 23.9% in the first quarter. Parametric Portfolio Associates LLC now owns 1,877,619 shares of the electronics maker’s stock valued at $16,241,000 after purchasing an additional 362,688 shares during the last quarter. SG Americas Securities LLC purchased a new position in LG Display in the first quarter valued at about $2,078,000. NINE MASTS CAPITAL Ltd grew its stake in LG Display by 38.5% in the fourth quarter. NINE MASTS CAPITAL Ltd now owns 255,050 shares of the electronics maker’s stock valued at $2,089,000 after purchasing an additional 70,922 shares during the last quarter. Highbridge Capital Management LLC grew its stake in LG Display by 18.9% in the fourth quarter. Highbridge Capital Management LLC now owns 237,742 shares of the electronics maker’s stock valued at $1,947,000 after purchasing an additional 37,742 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in LG Display in the first quarter valued at about $307,000. Institutional investors own 2.75% of the company’s stock.
About LG Display
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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