Universal Display (NASDAQ:OLED) Issues Quarterly Earnings Results

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

Universal Display Trading Down 10.1 %

OLED stock traded down $20.59 during trading on Thursday, hitting $182.57. The company had a trading volume of 669,751 shares, compared to its average volume of 365,342. The company has a fifty day moving average price of $201.79 and a two-hundred day moving average price of $193.89. The company has a market cap of $8.66 billion, a P/E ratio of 39.28, a P/E/G ratio of 2.16 and a beta of 1.42. Universal Display has a fifty-two week low of $133.67 and a fifty-two week high of $237.00.

Analyst Ratings Changes

Several research analysts have commented on the company. Needham & Company LLC dropped their price target on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday. The Goldman Sachs Group boosted their price objective on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Oppenheimer lowered their price objective on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday. Roth Mkm boosted their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, TD Cowen lowered 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 equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.63.

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.