FY2024 EPS Estimates for Universal Display Co. Raised by Analyst (NASDAQ:OLED)

Universal Display Co. (NASDAQ:OLED) – Analysts at Zacks Research lifted their FY2024 earnings per share estimates for Universal Display in a research note issued on Wednesday, June 12th. Zacks Research analyst R. Department now expects that the semiconductor company will post earnings per share of $4.65 for the year, up from their prior estimate of $4.64. The consensus estimate for Universal Display’s current full-year earnings is $4.75 per share.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. The company had revenue of $165.26 million during the quarter, compared to the consensus estimate of $150.75 million. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The business’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period last year, the business earned $0.83 EPS.

A number of other research firms also recently weighed in on OLED. Needham & Company LLC restated a “buy” rating and set a $198.00 price target on shares of Universal Display in a report on Friday, May 3rd. TD Cowen raised their target price 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 reiterated an “outperform” rating and set a $200.00 price target (down previously from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.86.

Universal Display Stock Down 1.3 %

NASDAQ OLED opened at $201.40 on Friday. The stock has a market capitalization of $9.55 billion, a PE ratio of 43.78, a price-to-earnings-growth ratio of 2.21 and a beta of 1.47. Universal Display has a 12-month low of $133.67 and a 12-month high of $207.43. The company has a 50 day moving average price of $171.21 and a two-hundred day moving average price of $174.28.

Hedge Funds Weigh In On Universal Display

A number of hedge funds have recently made changes to their positions in OLED. Swedbank AB bought a new position in Universal Display during the first quarter worth about $1,995,000. Tidal Investments LLC lifted its position in shares of Universal Display by 172.0% during the 1st quarter. Tidal Investments LLC now owns 6,246 shares of the semiconductor company’s stock worth $1,052,000 after buying an additional 3,950 shares during the period. Motley Fool Asset Management LLC bought a new stake in Universal Display in the first quarter valued at $626,000. Jacobs Levy Equity Management Inc. bought a new stake in Universal Display in the first quarter valued at $620,000. Finally, Janus Henderson Group PLC raised its stake in Universal Display by 66.6% during the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock worth $73,099,000 after acquiring an additional 173,496 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Insider Activity at Universal Display

In other Universal Display news, EVP Julia J. Brown sold 10,358 shares of Universal Display stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total value of $1,812,650.00. Following the transaction, the executive vice president now directly owns 56,624 shares of the company’s stock, valued at approximately $9,909,200. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Mauro Premutico sold 8,202 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total value of $1,450,277.64. Following the completion of the transaction, the senior vice president now directly owns 28,743 shares in the company, valued at $5,082,337.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Julia J. Brown sold 10,358 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total value of $1,812,650.00. Following the completion of the transaction, the executive vice president now directly owns 56,624 shares of the company’s stock, valued at $9,909,200. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.79%. Universal Display’s dividend payout ratio is presently 34.78%.

About Universal Display

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.