Zacks Research Has Optimistic Outlook of OLED Q4 Earnings

Universal Display Co. (NASDAQ:OLED) – Analysts at Zacks Research lifted their Q4 2024 earnings per share (EPS) estimates for Universal Display in a note issued to investors on Wednesday, October 16th. Zacks Research analyst R. Department now expects that the semiconductor company will earn $1.29 per share for the quarter, up from their prior forecast of $1.28. The consensus estimate for Universal Display’s current full-year earnings is $4.81 per share.

Other equities research analysts also recently issued research reports about the company. Roth Mkm increased their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group increased their price objective on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Oppenheimer increased their price objective on Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. TD Cowen increased their target price on Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC increased their target price on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $225.88.

Universal Display Stock Performance

Shares of NASDAQ:OLED opened at $204.99 on Thursday. Universal Display has a one year low of $133.67 and a one year high of $237.00. The stock has a fifty day moving average of $197.99 and a 200-day moving average of $191.16. The company has a market capitalization of $9.73 billion, a PE ratio of 43.99, a price-to-earnings-growth ratio of 2.20 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The firm had revenue of $158.50 million during the quarter, compared to analyst estimates of $159.46 million. During the same quarter last year, the company earned $1.04 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis.

Hedge Funds Weigh In On Universal Display

Hedge funds have recently modified their holdings of the stock. SageView Advisory Group LLC acquired a new position in shares of Universal Display in the first quarter worth $1,179,000. Montag A & Associates Inc. increased its stake in shares of Universal Display by 28.9% in the first quarter. Montag A & Associates Inc. now owns 11,848 shares of the semiconductor company’s stock worth $1,996,000 after acquiring an additional 2,655 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Universal Display by 172.0% in the first quarter. Tidal Investments LLC now owns 6,246 shares of the semiconductor company’s stock worth $1,052,000 after acquiring an additional 3,950 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Universal Display in the first quarter worth $1,001,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Universal Display by 375.1% in the second quarter. Harbor Capital Advisors Inc. now owns 10,043 shares of the semiconductor company’s stock worth $2,112,000 after acquiring an additional 7,929 shares during the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Monday, September 16th. Universal Display’s dividend payout ratio (DPR) is presently 34.33%.

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.