FY2024 Earnings Forecast for Universal Display Co. Issued By Zacks Research (NASDAQ:OLED)

Universal Display Co. (NASDAQ:OLEDFree Report) – Equities researchers at Zacks Research lowered their FY2024 EPS estimates for Universal Display in a research note issued to investors on Wednesday, May 29th. Zacks Research analyst R. Department now forecasts that the semiconductor company will post earnings per share of $4.64 for the year, down from their previous estimate of $4.67. The consensus estimate for Universal Display’s current full-year earnings is $4.75 per share. Zacks Research also issued estimates for Universal Display’s Q4 2025 earnings at $1.44 EPS.

Universal Display (NASDAQ:OLEDGet Free Report) last issued its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. The firm had revenue of $165.26 million for the quarter, compared to analyst estimates of $150.75 million. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. The company’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the business posted $0.83 earnings per share.

Several other research firms have also recently issued reports on OLED. Needham & Company LLC reiterated a “buy” rating and issued a $198.00 target price on shares of Universal Display in a research note on Friday, May 3rd. TD Cowen boosted their target price on shares of Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Finally, Oppenheimer reissued an “outperform” rating and issued a $200.00 target price (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $199.86.

View Our Latest Report on Universal Display

Universal Display Trading Up 0.0 %

Shares of NASDAQ OLED opened at $177.58 on Monday. Universal Display has a 1-year low of $133.67 and a 1-year high of $194.84. The firm’s 50-day moving average price is $166.99 and its 200-day moving average price is $172.88. The firm has a market capitalization of $8.42 billion, a P/E ratio of 38.60, a P/E/G ratio of 1.90 and a beta of 1.47.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC raised its position in Universal Display by 46.4% during the third quarter. Private Advisor Group LLC now owns 3,892 shares of the semiconductor company’s stock valued at $611,000 after buying an additional 1,233 shares during the period. Victory Capital Management Inc. lifted its position in shares of Universal Display by 4.5% in the 3rd quarter. Victory Capital Management Inc. now owns 7,771 shares of the semiconductor company’s stock worth $1,220,000 after acquiring an additional 337 shares during the period. Barclays PLC raised its holdings in shares of Universal Display by 15.0% in the 3rd quarter. Barclays PLC now owns 61,724 shares of the semiconductor company’s stock worth $9,690,000 after buying an additional 8,041 shares in the last quarter. New York Life Investment Management LLC raised its holdings in shares of Universal Display by 112.4% in the 3rd quarter. New York Life Investment Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $731,000 after buying an additional 2,463 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in Universal Display by 4.4% during the 3rd quarter. Amalgamated Bank now owns 31,472 shares of the semiconductor company’s stock valued at $4,941,000 after purchasing an additional 1,314 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Insider Activity at Universal Display

In other news, SVP Mauro Premutico sold 8,202 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the completion of the transaction, the senior vice president now directly owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Universal Display news, SVP Mauro Premutico sold 8,202 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total value of $1,450,277.64. Following the completion of the sale, the senior vice president now owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Julia J. Brown sold 10,358 shares of Universal Display stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total value of $1,812,650.00. Following the sale, the executive vice president now owns 56,624 shares of the company’s stock, valued at approximately $9,909,200. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders 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 annualized dividend and a dividend yield of 0.90%. Universal Display’s dividend payout ratio is presently 34.78%.

About Universal Display

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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.

See Also

Earnings History and Estimates for Universal Display (NASDAQ:OLED)

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