Zacks Research Has Negative Outlook for OLED FY2024 Earnings

Universal Display Co. (NASDAQ:OLED - Free Report) - Analysts at Zacks Research decreased their FY2024 earnings per share (EPS) estimates for shares of Universal Display in a research report issued on Monday, January 13th. Zacks Research analyst R. Department now forecasts that the semiconductor company will post earnings of $4.76 per share for the year, down from their previous estimate 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 - Get Free Report) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.21. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The firm had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. During the same quarter in the prior year, the firm earned $1.08 earnings per share. Universal Display's revenue for the quarter was up 14.6% on a year-over-year basis.

A number of other equities analysts have also weighed in on OLED. Needham & Company LLC reduced their price objective on Universal Display from $242.00 to $215.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. TD Cowen dropped their target price on Universal Display from $250.00 to $225.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. Finally, Oppenheimer decreased their price target on Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Thursday, January 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Universal Display has an average rating of "Moderate Buy" and a consensus price target of $207.86.

Universal Display Stock Performance

Shares of Universal Display stock traded up $0.60 during trading on Wednesday, hitting $146.56. 644,076 shares of the company's stock were exchanged, compared to its average volume of 544,977. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 1.74 and a beta of 1.40. The business has a 50-day simple moving average of $159.23 and a 200-day simple moving average of $187.23. Universal Display has a 52-week low of $143.25 and a 52-week high of $237.00.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Tuesday, December 17th. Universal Display's payout ratio is 32.13%.

Insider Buying and Selling at Universal Display

In related news, Director Lawrence Lacerte purchased 742 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $180.89 per share, with a total value of $134,220.38. Following 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On Universal Display

Several large investors have recently bought and sold shares of OLED. Primecap Management Co. CA boosted its stake in shares of Universal Display by 0.4% in the second quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company's stock worth $398,427,000 after acquiring an additional 7,435 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Universal Display by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company's stock valued at $167,825,000 after purchasing an additional 15,015 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Universal Display during the 2nd quarter worth $127,668,000. Van ECK Associates Corp boosted its stake in Universal Display by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company's stock worth $101,914,000 after purchasing an additional 108,394 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Universal Display by 27.3% during the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company's stock worth $98,725,000 after buying an additional 100,809 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.