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

Universal Display Co. (NASDAQ:OLED) – Equities researchers at Zacks Research cut their FY2024 EPS estimates for shares of Universal Display in a research note issued to investors on Monday, January 13th. Zacks Research analyst R. Department now forecasts that the semiconductor company will earn $4.76 per share for the year, down from their prior forecast 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.

OLED has been the subject of a number of other research reports. Needham & Company LLC dropped their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Oppenheimer reduced their target price on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, January 2nd. Finally, TD Cowen cut their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a 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. According to data from MarketBeat.com, Universal Display currently has an average rating of “Moderate Buy” and a consensus target price of $207.86.

Universal Display Price Performance

Shares of OLED stock opened at $146.56 on Wednesday. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 29.43, a P/E/G ratio of 1.74 and a beta of 1.40. The stock’s fifty day simple moving average is $159.23 and its 200 day simple moving average is $187.23. Universal Display has a one year low of $143.25 and a one year high of $237.00.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.21. The company 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 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.

Hedge Funds Weigh In On Universal Display

A number of institutional investors have recently bought and sold shares of the company. Empirical Asset Management LLC purchased a new stake in Universal Display during the 4th quarter worth approximately $388,000. Park Avenue Securities LLC increased its holdings in shares of Universal Display by 20.0% in the 4th quarter. Park Avenue Securities LLC now owns 1,725 shares of the semiconductor company’s stock valued at $252,000 after purchasing an additional 288 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Universal Display by 627.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 78,351 shares of the semiconductor company’s stock valued at $11,455,000 after acquiring an additional 67,583 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in Universal Display by 24.3% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 1,674 shares of the semiconductor company’s stock valued at $245,000 after acquiring an additional 327 shares during the last quarter. Finally, Oak Thistle LLC boosted its stake in shares of Universal Display by 192.5% during the 4th quarter. Oak Thistle LLC now owns 10,390 shares of the semiconductor company’s stock worth $1,519,000 after purchasing an additional 6,838 shares during the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Universal Display

In related news, Director Lawrence Lacerte bought 742 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were acquired at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the transaction, the director now directly owns 122,372 shares in the company, valued at $22,135,871.08. This trade represents 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 through this link. 1.90% of the stock is owned by company insiders.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, December 17th. This represents a $1.60 annualized dividend and a dividend yield of 1.09%. Universal Display’s dividend payout ratio (DPR) is presently 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.