Universal Display (NASDAQ:OLED) Issues Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Universal Display (NASDAQ:OLED) issued its 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. The firm had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The business’s revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share. Universal Display updated its FY 2024 guidance to EPS.

Universal Display Price Performance

OLED stock traded down $24.24 during trading on Thursday, hitting $178.92. 737,354 shares of the stock traded hands, compared to its average volume of 365,434. The firm’s 50 day moving average is $201.79 and its two-hundred day moving average is $193.89. Universal Display has a 1 year low of $133.67 and a 1 year high of $237.00. The stock has a market cap 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

Several research firms have issued reports on OLED. Roth Mkm increased their target price 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. The Goldman Sachs Group increased their price target on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Susquehanna boosted their target price on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer dropped their price target on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, TD Cowen cut 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Universal Display presently has a consensus 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.