Roth Capital Predicts Reduced Earnings for Universal Display

Universal Display Co. (NASDAQ:OLED - Free Report) - Roth Capital dropped their FY2024 earnings estimates for shares of Universal Display in a report released on Wednesday, October 30th. Roth Capital analyst S. Searle now expects that the semiconductor company will post earnings of $4.75 per share for the year, down from their previous estimate of $4.79. The consensus estimate for Universal Display's current full-year earnings is $4.81 per share. Roth Capital also issued estimates for Universal Display's Q4 2024 earnings at $1.03 EPS, Q1 2025 earnings at $0.96 EPS, Q3 2025 earnings at $1.16 EPS, Q4 2025 earnings at $1.33 EPS, FY2025 earnings at $4.45 EPS, Q1 2026 earnings at $1.17 EPS, Q2 2026 earnings at $1.28 EPS, Q3 2026 earnings at $1.54 EPS and FY2026 earnings at $5.77 EPS.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $165.28 million. During the same period in the previous year, the company posted $1.08 EPS. The firm's quarterly revenue was up 14.6% on a year-over-year basis.

A number of other research firms have also commented on OLED. Roth Mkm raised their price objective on Universal Display from $189.00 to $217.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Needham & Company LLC decreased their price objective on shares of Universal Display from $242.00 to $215.00 and set a "buy" rating on the stock in a research note on Thursday. TD Cowen lowered 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. Oppenheimer reduced their target price on Universal Display from $240.00 to $220.00 and set an "outperform" rating on the stock in a report on Thursday. Finally, Susquehanna boosted their price target on Universal Display from $170.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Universal Display has an average rating of "Moderate Buy" and an average target price of $215.63.

Universal Display Stock Down 0.3 %

Shares of OLED traded down $0.57 during mid-day trading on Monday, hitting $179.68. 382,001 shares of the company's stock were exchanged, compared to its average volume of 369,767. Universal Display has a 52 week low of $144.85 and a 52 week high of $237.00. The stock's 50-day simple moving average is $201.32 and its 200-day simple moving average is $194.52. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 1.93 and a beta of 1.43.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.89%. Universal Display's dividend payout ratio (DPR) is presently 32.13%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Universal Display during the second quarter worth about $127,668,000. Raymond James & Associates raised its holdings in Universal Display by 629.9% during the 3rd 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 during the last quarter. Janus Henderson Group PLC lifted its position in shares of Universal Display by 66.6% in the 1st quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company's stock worth $73,099,000 after purchasing an additional 173,496 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Universal Display during the second quarter worth $34,558,000. Finally, Strategic Financial Concepts LLC bought a new position in Universal Display during the second quarter worth $23,500,000. 78.19% of the stock is owned by institutional investors and hedge funds.

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.