Zacks Research Has Positive Outlook for OLED FY2024 Earnings

Universal Display Co. (NASDAQ:OLED) – Stock analysts at Zacks Research increased their FY2024 earnings per share estimates for shares of Universal Display in a research note issued on Wednesday, November 20th. Zacks Research analyst R. Department now forecasts that the semiconductor company will earn $4.79 per share for the year, up from their previous estimate of $4.75. The consensus estimate for Universal Display’s current full-year earnings is $4.79 per share. Zacks Research also issued estimates for Universal Display’s Q1 2025 earnings at $1.04 EPS, Q2 2025 earnings at $1.06 EPS and Q1 2026 earnings at $1.33 EPS.

Universal Display (NASDAQ:OLED) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.21. The business had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 EPS.

Other equities research analysts have also issued reports about the company. Susquehanna upped their price objective on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer reduced their price objective on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Needham & Company LLC cut their price target 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 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. Finally, Roth Mkm increased their price target on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Universal Display has an average rating of “Moderate Buy” and an average target price of $215.63.

Universal Display Trading Up 0.8 %

Shares of OLED opened at $168.41 on Friday. The firm has a market cap of $7.99 billion, a PE ratio of 33.82, a P/E/G ratio of 1.76 and a beta of 1.43. The firm has a fifty day simple moving average of $195.31 and a two-hundred day simple moving average of $195.50. Universal Display has a 1-year low of $148.75 and a 1-year high of $237.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OLED. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Universal Display in the 2nd quarter valued at about $127,668,000. Citigroup Inc. lifted its stake in Universal Display by 1,387.6% in the third quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock worth $54,936,000 after purchasing an additional 244,129 shares during the last quarter. Raymond James & Associates increased its position in shares of Universal Display by 629.9% during the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock worth $56,550,000 after acquiring an additional 232,503 shares during the period. Barclays PLC increased its position in shares of Universal Display by 753.8% during the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock worth $44,608,000 after acquiring an additional 187,627 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Universal Display by 66.6% during the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock worth $73,099,000 after acquiring an additional 173,496 shares during the period. Institutional investors own 78.19% of the company’s stock.

Insider Activity at Universal Display

In other Universal Display news, Director Lawrence Lacerte purchased 742 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $180.89 per share, with a total value of $134,220.38. Following the acquisition, the director now owns 122,372 shares in the company, valued at approximately $22,135,871.08. The trade was a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by insiders.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display’s dividend payout ratio (DPR) is presently 32.13%.

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.