FY2024 EPS Forecast for Universal Display Lowered by Analyst

Universal Display Co. (NASDAQ:OLED) – Zacks Research dropped their FY2024 earnings per share estimates for shares of Universal Display in a note issued to investors on Tuesday, February 11th. Zacks Research analyst R. Department now forecasts 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.

Several other analysts have also weighed in on the company. TD Cowen decreased their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $215.00 price target on shares of Universal Display in a research report on Thursday, January 16th. The Goldman Sachs Group dropped their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Oppenheimer dropped their price target on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. Finally, Citigroup dropped their price objective on Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $199.57.

Universal Display Stock Performance

NASDAQ:OLED opened at $142.50 on Friday. The stock’s fifty day moving average is $149.60 and its 200 day moving average is $175.50. Universal Display has a fifty-two week low of $140.17 and a fifty-two week high of $237.00. The firm has a market capitalization of $6.76 billion, a PE ratio of 28.61, a PEG ratio of 1.57 and a beta of 1.39.

Institutional Investors Weigh In On Universal Display

Institutional investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV raised its position in Universal Display by 24.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 4,236 shares of the semiconductor company’s stock valued at $619,000 after acquiring an additional 845 shares in the last quarter. Utah Retirement Systems increased its position in shares of Universal Display by 1.3% in the fourth quarter. Utah Retirement Systems now owns 7,820 shares of the semiconductor company’s stock valued at $1,143,000 after buying an additional 100 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Universal Display in the fourth quarter valued at approximately $371,000. AQR Capital Management LLC increased its position in shares of Universal Display by 14.0% in the fourth quarter. AQR Capital Management LLC now owns 216,223 shares of the semiconductor company’s stock valued at $31,612,000 after buying an additional 26,556 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Universal Display by 17.8% in the fourth quarter. Northern Trust Corp now owns 417,644 shares of the semiconductor company’s stock valued at $61,060,000 after buying an additional 63,044 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

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.