Q2 2024 EPS Estimates for Universal Display Co. Lifted by Roth Capital (NASDAQ:OLED)

Universal Display Co. (NASDAQ:OLED) – Research analysts at Roth Capital increased their Q2 2024 earnings estimates for shares of Universal Display in a note issued to investors on Friday, May 3rd. Roth Capital analyst S. Searle now expects that the semiconductor company will earn $1.05 per share for the quarter, up from their prior estimate of $1.04. The consensus estimate for Universal Display’s current full-year earnings is $4.74 per share.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. The firm had revenue of $165.26 million for the quarter, compared to the consensus estimate of $150.75 million. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The company’s revenue was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 EPS.

Several other equities analysts have also weighed in on the stock. Citigroup restated a “neutral” rating and set a $180.00 price target (up previously from $161.00) on shares of Universal Display in a research report on Friday, January 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $198.00 price target on shares of Universal Display in a report on Friday. Oppenheimer reiterated an “outperform” rating and issued a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. Finally, TD Cowen raised their target price on Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Universal Display currently has a consensus rating of “Moderate Buy” and an average target price of $199.86.

Universal Display Price Performance

Shares of NASDAQ:OLED opened at $176.29 on Monday. The company has a market capitalization of $8.36 billion, a PE ratio of 38.32, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44. Universal Display has a 1 year low of $133.67 and a 1 year high of $194.84. The business has a fifty day moving average price of $163.34 and a two-hundred day moving average price of $169.23.

Institutional Trading of Universal Display

A number of hedge funds and other institutional investors have recently made changes to their positions in OLED. Vontobel Holding Ltd. grew its holdings in Universal Display by 6.4% during the 4th quarter. Vontobel Holding Ltd. now owns 309,804 shares of the semiconductor company’s stock valued at $59,253,000 after buying an additional 18,582 shares in the last quarter. Van ECK Associates Corp grew its stake in Universal Display by 18.3% during the fourth quarter. Van ECK Associates Corp now owns 270,184 shares of the semiconductor company’s stock valued at $51,676,000 after acquiring an additional 41,795 shares in the last quarter. FengHe Fund Management Pte. Ltd. bought a new stake in Universal Display during the 4th quarter worth approximately $5,451,000. Linden Thomas Advisory Services LLC lifted its stake in Universal Display by 3.3% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 14,848 shares of the semiconductor company’s stock worth $2,840,000 after purchasing an additional 469 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Universal Display by 54.5% in the 3rd quarter. Sei Investments Co. now owns 80,538 shares of the semiconductor company’s stock valued at $12,644,000 after purchasing an additional 28,415 shares during the period. 78.19% of the stock is currently owned by institutional investors.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. Universal Display’s payout ratio is 34.78%.

About Universal Display

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.