Zacks Research Has Positive Outlook for OLED FY2024 Earnings

Universal Display Co. (NASDAQ:OLED) – Equities researchers at Zacks Research lifted their FY2024 earnings estimates for Universal Display in a report released on Wednesday, November 20th. Zacks Research analyst R. Department now expects that the semiconductor company will post earnings per share of $4.79 for the year, up from their previous forecast of $4.75. The consensus estimate for Universal Display’s current full-year earnings is $4.79 per share. Zacks Research also issued estimates for Universal Display’s Q1 2025 earnings at $1.04 EPS, Q2 2025 earnings at $1.06 EPS and Q1 2026 earnings at $1.33 EPS.

Universal Display (NASDAQ:OLED) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.21. The company had revenue of $161.63 million during 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%. Universal Display’s revenue was up 14.6% compared to the same quarter last year. During the same period last year, the firm earned $1.08 earnings per share.

OLED has been the subject of several other reports. Susquehanna lifted their price objective on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer lowered their price objective on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. TD Cowen lowered their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Needham & Company LLC lowered their price objective on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Roth Mkm lifted their price objective on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Universal Display has an average rating of “Moderate Buy” and a consensus price target of $215.63.

Universal Display Stock Up 0.8 %

Shares of OLED opened at $168.41 on Friday. Universal Display has a twelve month low of $148.75 and a twelve month high of $237.00. The company has a 50 day moving average of $195.31 and a two-hundred day moving average of $195.50. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 33.82, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. Universal Display’s dividend payout ratio is presently 32.13%.

Insider Activity at Universal Display

In other news, Director Lawrence Lacerte acquired 742 shares of the business’s stock in a transaction on Monday, November 4th. The stock was bought at an average price of $180.89 per share, with a total value of $134,220.38. Following the completion of the acquisition, the director now owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. This represents a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OLED. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Universal Display in the second quarter valued at $127,668,000. Citigroup Inc. increased its stake in shares of Universal Display by 1,387.6% during the third quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock worth $54,936,000 after purchasing an additional 244,129 shares in the last quarter. Raymond James & Associates increased its stake in shares of Universal Display by 629.9% during the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock worth $56,550,000 after purchasing an additional 232,503 shares in the last quarter. Barclays PLC increased its stake in shares of Universal Display by 753.8% during the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock worth $44,608,000 after purchasing an additional 187,627 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Universal Display by 66.6% during the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock worth $73,099,000 after purchasing an additional 173,496 shares in the last quarter. Hedge funds and other 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.