Universal Display (NASDAQ:OLED) Announces Earnings Results

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

Universal Display Price Performance

Shares of Universal Display stock traded down $2.80 on Thursday, hitting $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 52 week low of $103.70 and a 52 week high of $164.29. The company has a market cap of $5.57 billion, a PE ratio of 25.24, a PEG ratio of 3.35 and a beta of 1.63. The business has a 50-day simple moving average of $120.14 and a 200-day simple moving average of $130.80.

Analyst Upgrades and Downgrades

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

Institutional Trading of Universal Display

A number of hedge funds and other institutional investors have recently modified their holdings of OLED. Focus Partners Wealth boosted its stake in Universal Display by 6.4% during the first quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock valued at $513,000 after buying an additional 221 shares in the last quarter. American Century Companies Inc. lifted its holdings in Universal Display by 2.3% in the 2nd quarter. American Century Companies Inc. now owns 12,766 shares of the semiconductor company’s stock valued at $1,972,000 after acquiring an additional 285 shares during the last quarter. Invesco Ltd. lifted its holdings in Universal Display by 1.8% in the 2nd quarter. Invesco Ltd. now owns 112,982 shares of the semiconductor company’s stock valued at $17,451,000 after acquiring an additional 2,040 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Universal Display during the 2nd quarter valued at about $2,220,000. Finally, Cresset Asset Management LLC grew its stake in shares of Universal Display by 64.2% in the 2nd quarter. Cresset Asset Management LLC now owns 2,512 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 982 shares during the last quarter. Institutional investors 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.