Universal Display (NASDAQ:OLED) Releases Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Universal Display (NASDAQ:OLEDGet Rating) announced its earnings results on Thursday. The semiconductor company reported $0.87 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.13), Briefing.com reports. Universal Display had a return on equity of 16.84% and a net margin of 31.80%. The business had revenue of $136.60 million during the quarter, compared to analyst estimates of $151.21 million. During the same period in the previous year, the firm earned $0.85 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Universal Display updated its FY 2022 guidance to EPS.

Universal Display Stock Performance

NASDAQ OLED traded up $6.36 on Friday, reaching $125.41. The company had a trading volume of 884,556 shares, compared to its average volume of 354,352. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 1.31 and a beta of 1.46. Universal Display has a 1-year low of $98.71 and a 1-year high of $220.23. The company’s fifty day moving average is $113.46 and its 200-day moving average is $134.65.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Thursday, September 15th. Universal Display’s dividend payout ratio is currently 31.17%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on OLED shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Universal Display from $180.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, August 1st. The Goldman Sachs Group reduced their price objective on Universal Display from $225.00 to $192.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Cowen reduced their price objective on Universal Display from $175.00 to $145.00 in a report on Friday. Bank of America downgraded Universal Display from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $190.00 to $135.00 in a report on Wednesday, June 29th. Finally, Cowen reduced their price objective on Universal Display from $175.00 to $145.00 in a report on Friday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $168.30.

Hedge Funds Weigh In On Universal Display

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Universal Display in the 1st quarter worth $259,000. Virtu Financial LLC acquired a new position in shares of Universal Display during the 1st quarter worth about $491,000. Point72 Hong Kong Ltd acquired a new position in shares of Universal Display during the 1st quarter worth about $783,000. Eaton Vance Management boosted its stake in shares of Universal Display by 88.7% during the 1st quarter. Eaton Vance Management now owns 47,927 shares of the semiconductor company’s stock worth $8,002,000 after buying an additional 22,532 shares during the last quarter. Finally, First Republic Investment Management Inc. boosted its stake in shares of Universal Display by 7.8% during the 1st quarter. First Republic Investment Management Inc. now owns 7,999 shares of the semiconductor company’s stock worth $1,335,000 after buying an additional 576 shares during the last quarter. 71.15% of the stock is owned by institutional investors and hedge funds.

Universal Display Company Profile

(Get Rating)

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide.

Featured Articles

Earnings History for Universal Display (NASDAQ:OLED)

Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.