Universal Display (NASDAQ:OLED) Posts Earnings Results

Universal Display (NASDAQ:OLED) issued its quarterly earnings results on Wednesday. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20, Briefing.com reports. Universal Display had a net margin of 36.98% and a return on equity of 16.01%. The business had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The business’s revenue was up 14.6% compared to the same quarter last year. Universal Display updated its FY 2024 guidance to EPS.

Universal Display Stock Performance

Shares of OLED opened at $181.20 on Friday. The firm has a market cap of $8.60 billion, a PE ratio of 36.21, a PEG ratio of 2.17 and a beta of 1.42. The firm’s 50 day moving average price is $201.79 and its 200 day moving average price is $193.89. Universal Display has a twelve month low of $138.60 and a twelve month high of $237.00.

Universal Display Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 annualized dividend and a dividend yield of 0.88%. Universal Display’s dividend payout ratio is 32.13%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OLED shares. Roth Mkm upped their target price 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. The Goldman Sachs Group raised their price target on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Susquehanna increased their price objective on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Oppenheimer decreased their price target on Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Needham & Company LLC reduced their price objective on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a report on Thursday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $215.63.

Universal Display Company Profile

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.