Universal Display (NASDAQ:OLED) Issues 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, beating the consensus estimate of $1.20 by $0.20, Briefing.com reports. Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The company had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. During the same period last year, the firm earned $1.08 EPS. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. Universal Display updated its FY 2024 guidance to EPS.

Universal Display Trading Down 11.9 %

OLED traded down $24.24 on Thursday, reaching $178.92. The stock had a trading volume of 737,354 shares, compared to its average volume of 365,434. The firm has a 50-day moving average of $201.79 and a 200-day moving average of $193.89. Universal Display has a fifty-two week low of $133.67 and a fifty-two week high of $237.00. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 39.28, a price-to-earnings-growth ratio of 2.16 and a beta of 1.42.

Wall Street Analyst Weigh In

OLED has been the subject of a number of recent analyst reports. 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 report on Thursday. Roth Mkm boosted their price target on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC dropped their price target on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday. Susquehanna upped 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, The Goldman Sachs Group boosted their price target on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Universal Display presently has an average rating of “Moderate Buy” and a consensus price target 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.