Universal Display (NASDAQ:OLED) Posts Earnings Results, Beats Estimates By $0.20 EPS

Universal Display (NASDAQ:OLED) posted its earnings results on Wednesday. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.20, Briefing.com reports. The firm had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS. Universal Display updated its FY 2024 guidance to EPS.

Universal Display Stock Performance

Shares of NASDAQ:OLED traded down $22.48 during trading on Thursday, reaching $180.68. 646,909 shares of the stock were exchanged, compared to its average volume of 365,234. Universal Display has a 12-month low of $133.67 and a 12-month high of $237.00. The firm’s 50-day moving average price is $201.79 and its 200 day moving average price is $193.89. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 39.28, a price-to-earnings-growth ratio of 2.16 and a beta of 1.42.

Analyst Ratings Changes

OLED has been the subject of several research analyst reports. Susquehanna upped their target price on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Roth Mkm raised their price objective on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Needham & Company LLC decreased their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday. The Goldman Sachs Group lifted their target price on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, TD Cowen dropped their price target on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $215.63.

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.