What is Zacks Research’s Forecast for OLED FY2024 Earnings?

Universal Display Co. (NASDAQ:OLED) – Investment analysts at Zacks Research decreased their FY2024 EPS estimates for Universal Display in a research note issued to investors on Monday, January 13th. Zacks Research analyst R. Department now anticipates that the semiconductor company will earn $4.76 per share for the year, down from their prior 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) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.19 by $0.21. The firm had revenue of $161.63 million for 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 business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 EPS.

OLED has been the topic of several other reports. Needham & Company LLC lowered their price objective on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Oppenheimer reduced their price objective on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 2nd. Finally, TD Cowen cut their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $207.86.

Universal Display Price Performance

NASDAQ OLED opened at $146.56 on Wednesday. The firm’s fifty day moving average price is $159.23 and its 200 day moving average price is $187.23. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 1.74 and a beta of 1.40. Universal Display has a 12 month low of $143.25 and a 12 month high of $237.00.

Institutional Trading of Universal Display

A number of hedge funds have recently bought and sold shares of the company. Choreo LLC purchased a new stake in shares of Universal Display during the second quarter worth $291,000. American Century Companies Inc. raised its holdings in Universal Display by 3.9% during the second quarter. American Century Companies Inc. now owns 11,365 shares of the semiconductor company’s stock worth $2,389,000 after purchasing an additional 426 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 purchasing an additional 100,809 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Universal Display by 55.3% in the second quarter. Renaissance Technologies LLC now owns 40,439 shares of the semiconductor company’s stock valued at $8,502,000 after buying an additional 14,400 shares in the last quarter. Finally, Primecap Management Co. CA increased its holdings in 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 valued at $398,427,000 after buying an additional 7,435 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Insider Activity at Universal Display

In related news, Director Lawrence Lacerte purchased 742 shares of Universal Display stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the transaction, the director now directly owns 122,372 shares in the company, valued at $22,135,871.08. The trade was a 0.61 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by insiders.

Universal Display Dividend Announcement

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

About Universal Display

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.