FY2024 EPS Forecast for Universal Display Boosted by Analyst

Universal Display Co. (NASDAQ:OLED) – Research analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for shares of Universal Display in a research note issued to investors 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 prior 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 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 return on equity of 15.75% and a net margin of 36.98%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period last year, the company posted $1.08 earnings per share.

Several other analysts have also recently commented on the stock. Roth Mkm increased their price target on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. TD Cowen decreased their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. 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. Susquehanna raised their price target on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Oppenheimer dropped their price objective on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $215.63.

Universal Display Trading Up 0.3 %

OLED opened at $166.46 on Friday. Universal Display has a 1-year low of $148.75 and a 1-year high of $237.00. The stock has a market capitalization of $7.90 billion, a PE ratio of 33.43, a PEG ratio of 1.76 and a beta of 1.43. The firm has a 50-day moving average price of $196.12 and a two-hundred day moving average price of $195.55.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.96%. The ex-dividend date is Tuesday, December 17th. Universal Display’s payout ratio is 32.13%.

Insider Activity at Universal Display

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the business’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 acquisition, the director now directly owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Universal Display

Hedge funds have recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC bought a new position in Universal Display during the 2nd quarter worth about $127,668,000. Citigroup Inc. grew its holdings 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 buying an additional 244,129 shares in the last quarter. Raymond James & Associates raised its position in Universal Display by 629.9% in the 3rd quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock valued at $56,550,000 after buying an additional 232,503 shares during the last quarter. Barclays PLC lifted its stake in Universal Display by 753.8% in the 3rd quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock valued at $44,608,000 after acquiring an additional 187,627 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Universal Display by 66.6% in the 1st quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock valued at $73,099,000 after acquiring an additional 173,496 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

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.