Q2 2024 EPS Estimates for Universal Display Co. (NASDAQ:OLED) Lifted by Analyst

Universal Display Co. (NASDAQ:OLED) – Equities researchers at Roth Capital lifted their Q2 2024 EPS estimates for Universal Display in a research note issued to investors on Friday, May 3rd. Roth Capital analyst S. Searle now forecasts that the semiconductor company will post earnings per share of $1.05 for the quarter, up from their previous estimate of $1.04. The consensus estimate for Universal Display’s current full-year earnings is $4.74 per share.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.05 by $0.14. The company had revenue of $165.26 million during the quarter, compared to analysts’ expectations of $150.75 million. Universal Display had a net margin of 36.00% and a return on equity of 15.84%. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 EPS.

Other equities research analysts have also issued reports about the stock. Citigroup reaffirmed a “neutral” rating and set a $180.00 price target (up from $161.00) on shares of Universal Display in a report on Friday, January 19th. Needham & Company LLC reiterated a “buy” rating and set a $198.00 price target on shares of Universal Display in a report on Friday. TD Cowen raised their price objective on Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 target price (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.86.

Universal Display Stock Up 9.3 %

NASDAQ:OLED opened at $170.82 on Monday. Universal Display has a twelve month low of $131.00 and a twelve month high of $194.84. The stock’s 50-day simple moving average is $163.28 and its 200 day simple moving average is $169.10. The firm has a market capitalization of $8.10 billion, a PE ratio of 37.13, a price-to-earnings-growth ratio of 1.86 and a beta of 1.44.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

Institutional Investors Weigh In On Universal Display

Several institutional investors and hedge funds have recently made changes to their positions in OLED. Norges Bank acquired a new stake in Universal Display during the 4th quarter valued at approximately $101,088,000. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Universal Display during the fourth quarter worth $29,797,000. Albar Capital Ltd raised its stake in Universal Display by 2,888.4% during the third quarter. Albar Capital Ltd now owns 157,728 shares of the semiconductor company’s stock worth $24,762,000 after buying an additional 152,450 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in Universal Display by 327.5% during the fourth quarter. TimesSquare Capital Management LLC now owns 198,899 shares of the semiconductor company’s stock worth $38,041,000 after buying an additional 152,374 shares during the last quarter. Finally, FMR LLC lifted its holdings in Universal Display by 10.6% in the third quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock valued at $219,623,000 after buying an additional 134,000 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Company Profile

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 in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.