LG Display (LPL) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of LG Display (NYSE:LPL) from a buy rating to a hold rating in a report issued on Tuesday morning, Zacks.com reports.

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 analysts have also weighed in on the stock. HSBC lowered shares of LG Display from a buy rating to a hold rating in a research report on Wednesday, April 24th. BNP Paribas upgraded shares of LG Display from a reduce rating to a hold rating in a research report on Wednesday, February 13th. ValuEngine upgraded shares of LG Display from a sell rating to a hold rating in a research report on Thursday, January 31st. Finally, Daiwa Capital Markets downgraded LG Display from an outperform rating to a neutral rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. LG Display currently has an average rating of Hold and a consensus price target of $9.25.

LPL opened at $8.32 on Tuesday. LG Display has a fifty-two week low of $6.75 and a fifty-two week high of $11.02. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.61 and a current ratio of 0.88. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 3.47 and a beta of 0.80.

A number of hedge funds have recently made changes to their positions in the stock. Lindbrook Capital LLC boosted its stake in LG Display by 55.8% in the 1st quarter. Lindbrook Capital LLC now owns 4,358 shares of the electronics maker’s stock valued at $37,000 after buying an additional 1,560 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of LG Display by 78.7% in the 3rd quarter. Cornerstone Advisors Inc. now owns 3,992 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 1,758 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of LG Display by 5.1% in the 4th quarter. Wetherby Asset Management Inc. now owns 38,218 shares of the electronics maker’s stock valued at $313,000 after purchasing an additional 1,846 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of LG Display by 7.9% in the 4th quarter. Bank of America Corp DE now owns 29,380 shares of the electronics maker’s stock valued at $240,000 after purchasing an additional 2,152 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of LG Display by 173.1% in the 4th quarter. Parallel Advisors LLC now owns 4,408 shares of the electronics maker’s stock valued at $36,000 after purchasing an additional 2,794 shares in the last quarter. 2.81% of the stock is currently owned by institutional investors and hedge funds.

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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