FY2024 EPS Estimate for Universal Display Lowered by Analyst

Universal Display Co. (NASDAQ:OLED) – Research analysts at Zacks Research reduced their FY2024 earnings estimates for shares of Universal Display in a research note issued to investors on Monday, January 13th. Zacks Research analyst R. Department now expects that the semiconductor company will post earnings per share of $4.76 for the year, down from their prior forecast of $4.78. The consensus estimate for Universal Display’s current full-year earnings is $4.80 per share. Zacks Research also issued estimates for Universal Display’s Q4 2024 earnings at $1.07 EPS, Q1 2025 earnings at $0.99 EPS, Q2 2025 earnings at $1.00 EPS, FY2025 earnings at $4.53 EPS, Q2 2026 earnings at $1.37 EPS, Q3 2026 earnings at $1.35 EPS and FY2026 earnings at $5.53 EPS.

Universal Display (NASDAQ:OLED) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.21. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The business had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. During the same period in the prior year, the business earned $1.08 EPS. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year.

Several other equities research analysts have also commented on the stock. Oppenheimer reduced their price target on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, January 2nd. TD Cowen reduced their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Needham & Company LLC lowered their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $207.86.

Universal Display Price Performance

OLED stock opened at $145.96 on Wednesday. Universal Display has a 1-year low of $143.25 and a 1-year high of $237.00. The business has a 50-day moving average price of $159.93 and a 200 day moving average price of $187.68. The company has a market capitalization of $6.93 billion, a P/E ratio of 29.31, a PEG ratio of 1.74 and a beta of 1.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. acquired a new stake in Universal Display in the third quarter worth about $29,000. Brooklyn Investment Group purchased a new position in shares of Universal Display in the 3rd quarter valued at approximately $30,000. V Square Quantitative Management LLC acquired a new stake in Universal Display in the 3rd quarter worth approximately $31,000. True Wealth Design LLC purchased a new stake in Universal Display during the 3rd quarter worth approximately $36,000. Finally, Nisa Investment Advisors LLC grew its position in Universal Display by 60.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 65 shares during the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Universal Display

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was purchased at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the acquisition, the director now owns 122,372 shares in the company, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is owned by insiders.

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.10%. Universal Display’s payout ratio is 32.13%.

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.