Zacks Research Has Bearish Forecast for OLED FY2024 Earnings

Universal Display Co. (NASDAQ:OLED) – Stock analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of Universal Display in a research note issued on Tuesday, December 17th. Zacks Research analyst R. Department now forecasts that the semiconductor company will earn $4.78 per share for the year, down from their prior estimate of $4.79. 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 2025 earnings at $1.35 EPS.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.19 by $0.21. The firm had revenue of $161.63 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company earned $1.08 earnings per share.

A number of other brokerages have also weighed in on OLED. Needham & Company LLC lowered their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. TD Cowen reduced 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. Finally, Oppenheimer lowered their price target on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Universal Display has a consensus rating of “Moderate Buy” and an average price target of $210.71.

Universal Display Stock Down 0.7 %

Universal Display stock opened at $149.53 on Friday. The company’s 50-day moving average price is $176.86 and its two-hundred day moving average price is $193.47. The stock has a market cap of $7.10 billion, a P/E ratio of 30.03, a P/E/G ratio of 1.74 and a beta of 1.39. Universal Display has a twelve month low of $148.09 and a twelve month high of $237.00.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 1.07%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display’s dividend payout ratio (DPR) is currently 32.13%.

Insider Buying and Selling

In other news, Director Lawrence Lacerte acquired 742 shares of Universal Display stock in a transaction on Monday, November 4th. The shares were purchased at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the purchase, the director now directly owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. This represents a 0.61 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Trading of Universal Display

A number of institutional investors and hedge funds have recently made changes to their positions in OLED. Envestnet Portfolio Solutions Inc. lifted its stake in Universal Display by 38.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 1,883 shares of the semiconductor company’s stock worth $396,000 after purchasing an additional 520 shares during the last quarter. Raymond James & Associates boosted its stake in Universal Display by 1.8% in the second quarter. Raymond James & Associates now owns 36,911 shares of the semiconductor company’s stock valued at $7,760,000 after buying an additional 647 shares in the last quarter. Fifth Third Bancorp grew its position in Universal Display by 45.6% in the second quarter. Fifth Third Bancorp now owns 817 shares of the semiconductor company’s stock valued at $172,000 after acquiring an additional 256 shares during the last quarter. Clear Creek Financial Management LLC raised its stake in Universal Display by 13.0% during the second quarter. Clear Creek Financial Management LLC now owns 2,636 shares of the semiconductor company’s stock worth $554,000 after acquiring an additional 303 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Universal Display by 5.1% in the second quarter. Bank of New York Mellon Corp now owns 424,078 shares of the semiconductor company’s stock worth $89,162,000 after acquiring an additional 20,737 shares during the last quarter. Institutional investors 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.