Roth Capital Comments on Universal Display Co.’s Q2 2024 Earnings (NASDAQ:OLED)

Universal Display Co. (NASDAQ:OLED) – Investment analysts at Roth Capital raised their Q2 2024 EPS estimates for Universal Display in a research note issued on Friday, May 3rd. Roth Capital analyst S. Searle now forecasts that the semiconductor company will earn $1.05 per share for the quarter, up from their previous forecast of $1.04. The consensus estimate for Universal Display’s current full-year earnings is $4.74 per share.

Several other research firms have also weighed in on OLED. Needham & Company LLC reaffirmed a “buy” rating and set a $198.00 price objective on shares of Universal Display in a report on Friday. Oppenheimer reissued an “outperform” rating and issued a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. TD Cowen raised their target price on Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, Citigroup reiterated a “neutral” rating and set a $180.00 price target (up previously from $161.00) on shares of Universal Display in a research report on Friday, January 19th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.86.

Universal Display Stock Performance

OLED opened at $176.29 on Monday. Universal Display has a twelve month low of $133.67 and a twelve month high of $194.84. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 38.32, a PEG ratio of 1.85 and a beta of 1.44. The firm’s 50-day simple moving average is $163.34 and its 200-day simple moving average is $169.23.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The business had revenue of $165.26 million during the quarter, compared to the consensus estimate of $150.75 million. Universal Display’s revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 0.91%. Universal Display’s dividend payout ratio is currently 34.78%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Universal Display during the 4th quarter worth $101,088,000. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Universal Display in the 4th quarter valued at approximately $29,797,000. Albar Capital Ltd raised its holdings in Universal Display by 2,888.4% during the 3rd quarter. Albar Capital Ltd now owns 157,728 shares of the semiconductor company’s stock worth $24,762,000 after buying an additional 152,450 shares during the period. TimesSquare Capital Management LLC lifted its stake in Universal Display by 327.5% in the fourth quarter. TimesSquare Capital Management LLC now owns 198,899 shares of the semiconductor company’s stock valued at $38,041,000 after buying an additional 152,374 shares in the last quarter. Finally, FMR LLC increased its position in shares of Universal Display by 10.6% during the third quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock worth $219,623,000 after acquiring an additional 134,000 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

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.