Zacks Research Has Negative Outlook for OLED FY2024 Earnings

Universal Display Co. (NASDAQ:OLED - Free Report) - Zacks Research reduced their FY2024 earnings per share estimates for Universal Display in a note issued to investors on Tuesday, February 11th. Zacks Research analyst R. Department now expects that the semiconductor company will earn $4.75 per share for the year, down from their previous estimate of $4.76. 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 Q2 2025 earnings at $1.01 EPS, FY2025 earnings at $4.55 EPS, Q4 2026 earnings at $1.45 EPS and FY2026 earnings at $5.44 EPS.

Other equities research analysts have also recently issued reports about the company. TD Cowen cut their price target on Universal Display from $250.00 to $225.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Needham & Company LLC reiterated a "buy" rating and issued a $215.00 price target on shares of Universal Display in a research note on Thursday, January 16th. Citigroup cut their price target on Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. The Goldman Sachs Group cut their price target on Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Finally, Oppenheimer cut their price target on Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $199.57.

Universal Display Stock Performance

Shares of OLED stock traded up $2.52 during trading on Friday, hitting $145.02. The company had a trading volume of 734,353 shares, compared to its average volume of 675,305. The firm has a market capitalization of $6.88 billion, a P/E ratio of 29.12, a price-to-earnings-growth ratio of 1.57 and a beta of 1.39. The stock's 50-day moving average price is $149.09 and its 200 day moving average price is $174.20. Universal Display has a one year low of $140.17 and a one year high of $237.00.

Institutional Investors Weigh In On Universal Display

Several institutional investors and hedge funds have recently added to or reduced their stakes in OLED. CWM LLC lifted its stake in Universal Display by 390.9% during the third quarter. CWM LLC now owns 5,586 shares of the semiconductor company's stock worth $1,173,000 after purchasing an additional 4,448 shares during the last quarter. Creative Planning lifted its stake in shares of Universal Display by 16.1% in the 3rd quarter. Creative Planning now owns 15,406 shares of the semiconductor company's stock valued at $3,234,000 after acquiring an additional 2,132 shares during the last quarter. Swedbank AB lifted its stake in shares of Universal Display by 14.9% in the 3rd quarter. Swedbank AB now owns 5,364 shares of the semiconductor company's stock valued at $1,126,000 after acquiring an additional 696 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Universal Display by 1.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 167,347 shares of the semiconductor company's stock valued at $35,126,000 after acquiring an additional 2,885 shares during the last quarter. Finally, Heritage Family Offices LLP bought a new position in shares of Universal Display in the 3rd quarter valued at $408,000. 78.19% of the stock is currently owned by 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.