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

Universal Display (NASDAQ:OLED) announced its quarterly earnings results on Wednesday. The semiconductor company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.20 by $0.20, Briefing.com reports. The business had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 EPS. Universal Display updated its FY 2024 guidance to EPS.

Universal Display Trading Down 11.1 %

OLED traded down $22.48 during trading on Thursday, hitting $180.68. The company’s stock had a trading volume of 646,909 shares, compared to its average volume of 365,234. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of 39.28, a P/E/G ratio of 2.16 and a beta of 1.42. The business’s fifty day simple moving average is $201.79 and its 200 day simple moving average is $193.89. Universal Display has a twelve month low of $133.67 and a twelve month high of $237.00.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on OLED shares. Needham & Company LLC dropped their price objective on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a report on Thursday. Susquehanna boosted their price objective on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Oppenheimer dropped their target price on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Thursday. TD Cowen decreased their price target on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Roth Mkm increased their price objective on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.