Universal Display (NASDAQ:OLED) Announces Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Universal Display (NASDAQ:OLED) announced its quarterly earnings data on Wednesday. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping 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 return on equity of 15.25% and a net margin of 35.74%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 EPS. Universal Display updated its FY 2024 guidance to EPS.

Universal Display Price Performance

Shares of OLED stock traded down $20.59 during trading on Thursday, reaching $182.57. The company had a trading volume of 669,751 shares, compared to its average volume of 365,342. The firm’s 50 day simple moving average is $201.79 and its two-hundred day simple moving average is $193.89. Universal Display has a one year low of $133.67 and a one year high of $237.00. The company has a market capitalization of $8.66 billion, a PE ratio of 39.28, a PEG ratio of 2.16 and a beta of 1.42.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on OLED shares. Susquehanna raised their price target on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. TD Cowen cut their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday. Oppenheimer cut their price target on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research note on Thursday. Roth Mkm raised their price target on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC cut their price target on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.