Q2 2024 EPS Estimates for Universal Display Co. Increased by Roth Capital (NASDAQ:OLED)

Universal Display Co. (NASDAQ:OLED) – Stock analysts at Roth Capital lifted their Q2 2024 earnings per share (EPS) estimates for shares of Universal Display in a research report issued to clients and investors on Friday, May 3rd. Roth Capital analyst S. Searle now forecasts that the semiconductor company will post earnings of $1.05 per share for the quarter, up from their previous forecast of $1.04. The consensus estimate for Universal Display’s current full-year earnings is $4.74 per share.

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

A number of other research firms have also commented on OLED. Citigroup restated a “neutral” rating and set a $180.00 price objective (up previously from $161.00) on shares of Universal Display in a research note on Friday, January 19th. TD Cowen upped their price objective on shares of Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Oppenheimer reissued an “outperform” rating and issued a $200.00 target price (down from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $198.00 price target on shares of Universal Display in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $199.86.

Universal Display Stock Down 0.6 %

Shares of NASDAQ:OLED opened at $175.18 on Monday. Universal Display has a 12-month low of $133.67 and a 12-month high of $194.84. The company’s 50 day moving average price is $163.46 and its two-hundred day moving average price is $169.36. The firm has a market cap of $8.31 billion, a PE ratio of 38.08, a PEG ratio of 1.85 and a beta of 1.44.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. Universal Display’s dividend payout ratio is currently 34.78%.

Institutional Investors Weigh In On Universal Display

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Universal Display by 0.5% during the third quarter. Vanguard Group Inc. now owns 4,511,145 shares of the semiconductor company’s stock valued at $708,205,000 after purchasing an additional 23,944 shares in the last quarter. FMR LLC boosted its position in Universal Display by 10.6% during the 3rd quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock worth $219,623,000 after buying an additional 134,000 shares during the period. Jennison Associates LLC grew its holdings in Universal Display by 0.4% during the 4th quarter. Jennison Associates LLC now owns 903,068 shares of the semiconductor company’s stock worth $172,721,000 after acquiring an additional 3,397 shares during the last quarter. Norges Bank bought a new position in shares of Universal Display during the fourth quarter valued at $101,088,000. Finally, First Trust Advisors LP lifted its holdings in shares of Universal Display by 20.7% during the fourth quarter. First Trust Advisors LP now owns 449,628 shares of the semiconductor company’s stock worth $85,996,000 after purchasing an additional 76,967 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

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.