Zacks Research Cuts Earnings Estimates for Universal Display

Universal Display Co. (NASDAQ:OLED) – Equities researchers at Zacks Research reduced their FY2024 EPS estimates for shares of Universal Display in a research note issued on Monday, January 13th. Zacks Research analyst R. Department now forecasts that the semiconductor company will earn $4.76 per share for the year, down from their prior forecast of $4.78. The consensus estimate for Universal Display’s current full-year earnings is $4.77 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 announced its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.21. The firm had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. Universal Display’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS.

A number of other brokerages have also issued reports on OLED. Oppenheimer decreased their target price on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, January 2nd. Needham & Company LLC restated a “buy” rating and set a $215.00 price objective on shares of Universal Display in a research report on Thursday. Finally, 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 report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $207.86.

Universal Display Stock Up 0.4 %

Shares of OLED opened at $147.12 on Wednesday. The firm has a 50-day moving average price of $158.45 and a 200 day moving average price of $186.94. The firm has a market capitalization of $6.98 billion, a PE ratio of 29.54, a P/E/G ratio of 1.62 and a beta of 1.40. Universal Display has a 52-week low of $143.25 and a 52-week high of $237.00.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Tuesday, December 17th. Universal Display’s dividend payout ratio is presently 32.13%.

Insider Buying and Selling at Universal Display

In other news, Director Lawrence Lacerte acquired 742 shares of Universal Display stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $180.89 per share, with a total value of $134,220.38. Following the completion of the purchase, the director now owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This represents a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Trading of Universal Display

A number of hedge funds have recently bought and sold shares of OLED. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Universal Display in the second quarter worth approximately $127,668,000. Citigroup Inc. lifted its position in shares of Universal Display by 1,387.6% in the third quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock worth $54,936,000 after purchasing an additional 244,129 shares in the last quarter. Raymond James & Associates lifted its position in shares of Universal Display by 629.9% in the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock worth $56,550,000 after purchasing an additional 232,503 shares in the last quarter. Barclays PLC lifted its position in shares of Universal Display by 753.8% in the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock worth $44,608,000 after purchasing an additional 187,627 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Universal Display in the second quarter worth approximately $34,558,000. 78.19% of the stock is 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.