Zacks Research Brokers Raise Earnings Estimates for Universal Display Co. (NASDAQ:OLED)

Universal Display Co. (NASDAQ:OLED) – Zacks Research raised their Q4 2024 earnings per share estimates for shares of Universal Display in a note issued to investors on Wednesday, October 16th. Zacks Research analyst R. Department now forecasts that the semiconductor company will earn $1.29 per share for the quarter, up from their previous estimate of $1.28. The consensus estimate for Universal Display’s current full-year earnings is $4.81 per share.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). The firm had revenue of $158.50 million for the quarter, compared to the consensus estimate of $159.46 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 EPS.

Other analysts have also issued research reports about the company. TD Cowen increased their target price on Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Oppenheimer lifted their price objective on shares of Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. The Goldman Sachs Group upped their target price on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Needham & Company LLC lifted their price target on shares of Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, Susquehanna increased their price objective on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $225.88.

Universal Display Stock Performance

OLED opened at $201.88 on Thursday. Universal Display has a one year low of $133.67 and a one year high of $237.00. The stock has a market cap of $9.58 billion, a price-to-earnings ratio of 43.32, a P/E/G ratio of 2.20 and a beta of 1.42. The stock’s 50 day moving average price is $197.25 and its 200-day moving average price is $191.07.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.79%. Universal Display’s dividend payout ratio is presently 34.33%.

Institutional Investors Weigh In On Universal Display

Hedge funds have recently made changes to their positions in the stock. SageView Advisory Group LLC bought a new position in Universal Display in the first quarter worth about $1,179,000. Montag A & Associates Inc. lifted its position in Universal Display by 28.9% during the first quarter. Montag A & Associates Inc. now owns 11,848 shares of the semiconductor company’s stock valued at $1,996,000 after acquiring an additional 2,655 shares during the last quarter. Tidal Investments LLC boosted its stake in Universal Display by 172.0% in the first quarter. Tidal Investments LLC now owns 6,246 shares of the semiconductor company’s stock valued at $1,052,000 after acquiring an additional 3,950 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Universal Display in the first quarter worth $1,001,000. Finally, Harbor Capital Advisors Inc. increased its position in shares of Universal Display by 375.1% during the second quarter. Harbor Capital Advisors Inc. now owns 10,043 shares of the semiconductor company’s stock worth $2,112,000 after purchasing an additional 7,929 shares in the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

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.