Universal Display (NASDAQ:OLED) Releases Earnings Results, Beats Expectations By $0.11 EPS

Universal Display (NASDAQ:OLED) posted its earnings results on Thursday. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.11, FiscalAI reports. The firm had revenue of $172.93 million during the quarter, compared to the consensus estimate of $173.35 million. Universal Display had a net margin of 34.65% and a return on equity of 14.10%.

Universal Display Stock Performance

Shares of Universal Display stock traded down $2.80 during trading on Thursday, reaching $117.12. The company had a trading volume of 1,371,569 shares, compared to its average volume of 769,412. Universal Display has a fifty-two week low of $103.70 and a fifty-two week high of $164.29. The firm’s fifty day moving average is $120.14 and its 200-day moving average is $130.80. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 3.35 and a beta of 1.63.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OLED shares. Zacks Research lowered shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price target on shares of Universal Display in a report on Monday, December 22nd. Citigroup cut their price objective on Universal Display from $150.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 27th. Wall Street Zen cut Universal Display from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a research note on Wednesday, December 24th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $163.25.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OLED. State Street Corp raised its position in shares of Universal Display by 4.3% during the 4th quarter. State Street Corp now owns 1,694,779 shares of the semiconductor company’s stock valued at $197,916,000 after acquiring an additional 69,163 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Universal Display by 86.4% during the fourth quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock valued at $102,846,000 after purchasing an additional 408,315 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Universal Display by 17.4% during the fourth quarter. First Trust Advisors LP now owns 806,454 shares of the semiconductor company’s stock worth $94,178,000 after purchasing an additional 119,504 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Universal Display by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 726,505 shares of the semiconductor company’s stock worth $84,846,000 after buying an additional 40,798 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Universal Display by 23.5% in the 4th quarter. Janus Henderson Group PLC now owns 638,245 shares of the semiconductor company’s stock valued at $74,521,000 after buying an additional 121,586 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Company Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.