Why Universal Display (OLED) Stock Is Down Today

NEW YORK (TheStreet) -- Universal Display (OLED) was falling -6.9% to $24.42 Monday following a report that Samsung won't expand its OLED TV production.

According to Nikkei Asian Review, Samsung abandoned its plans for a new facility to produce next-generation OLED panel for TVs due to production inefficiency and price competition. The publication says that Samsung's last lineup of OLED TVs didn't fare well because they were too expensive, with a 55-inch model selling for about $14,700.

Samsung will focus on LCD displays for its TVs for now, though it will continue to research OLED technology. The South Korean manufacturer is reportedly looking into setting up a facility to produce smaller OLED panels for mobile devices.

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TheStreet Ratings team rates UNIVERSAL DISPLAY CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate UNIVERSAL DISPLAY CORP (OLED) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year."

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