Universal Display Co. (NASDAQ:OLED – Get Rating) – Analysts at Zacks Research boosted their FY2023 EPS estimates for shares of Universal Display in a research note issued to investors on Friday, June 23rd. Zacks Research analyst A. Chatterjee now expects that the semiconductor company will post earnings of $3.72 per share for the year, up from their prior forecast of $3.71. The consensus estimate for Universal Display’s current full-year earnings is $3.85 per share. Zacks Research also issued estimates for Universal Display’s Q4 2023 earnings at $1.18 EPS, Q1 2024 earnings at $0.98 EPS, Q2 2024 earnings at $1.13 EPS, Q4 2024 earnings at $1.26 EPS, Q1 2025 earnings at $1.22 EPS and FY2025 earnings at $5.39 EPS.
Universal Display (NASDAQ:OLED – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The semiconductor company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. The business had revenue of $130.47 million during the quarter, compared to analysts’ expectations of $135.19 million. Universal Display had a return on equity of 16.15% and a net margin of 33.51%. The firm’s revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 EPS.
Universal Display Trading Down 3.1 %
Shares of OLED stock opened at $135.95 on Monday. The firm has a market capitalization of $6.43 billion, a P/E ratio of 32.52, a price-to-earnings-growth ratio of 2.25 and a beta of 1.39. Universal Display has a 1 year low of $89.41 and a 1 year high of $157.50. The firm’s fifty day simple moving average is $142.59 and its 200 day simple moving average is $135.25.
Institutional Trading of Universal Display
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE lifted its position in shares of Universal Display by 44.7% during the first quarter. US Bancorp DE now owns 2,947 shares of the semiconductor company’s stock worth $492,000 after purchasing an additional 911 shares in the last quarter. HighTower Advisors LLC boosted its position in Universal Display by 2.0% in the 1st quarter. HighTower Advisors LLC now owns 9,647 shares of the semiconductor company’s stock valued at $1,610,000 after buying an additional 189 shares during the last quarter. BlackRock Inc. increased its stake in shares of Universal Display by 2.8% in the 1st quarter. BlackRock Inc. now owns 4,309,400 shares of the semiconductor company’s stock valued at $719,455,000 after buying an additional 117,055 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Universal Display by 8.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 24,038 shares of the semiconductor company’s stock valued at $4,121,000 after buying an additional 1,860 shares during the period. Finally, Yousif Capital Management LLC raised its position in shares of Universal Display by 1.1% during the first quarter. Yousif Capital Management LLC now owns 22,569 shares of the semiconductor company’s stock worth $3,768,000 after acquiring an additional 239 shares during the last quarter. 74.93% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, EVP Julia J. Brown sold 1,764 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $150.14, for a total value of $264,846.96. Following the sale, the executive vice president now owns 63,268 shares of the company’s stock, valued at approximately $9,499,057.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Lawrence Lacerte sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $136.73, for a total transaction of $2,050,950.00. Following the completion of the sale, the director now directly owns 125,472 shares of the company’s stock, valued at approximately $17,155,786.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Julia J. Brown sold 1,764 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $150.14, for a total value of $264,846.96. Following the completion of the transaction, the executive vice president now directly owns 63,268 shares in the company, valued at approximately $9,499,057.52. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Universal Display Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $1.40 annualized dividend and a yield of 1.03%. Universal Display’s dividend payout ratio is currently 33.49%.
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. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.
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