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

Universal Display (NASDAQ:OLED) released its quarterly earnings data on Thursday. The semiconductor company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.11, FiscalAI reports. The business had revenue of $172.93 million during the quarter, compared to analyst estimates 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

OLED stock traded down $2.80 during mid-day trading on Thursday, reaching $117.12. 1,375,424 shares of the stock traded hands, compared to its average volume of 770,562. Universal Display has a one year low of $103.70 and a one year high of $164.29. The stock has a market capitalization 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 moving average price of $120.14 and a two-hundred day moving average price of $130.80.

Analysts Set New Price Targets

A number of analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $150.00 target price on shares of Universal Display in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a report on Wednesday, December 24th. Zacks Research lowered Universal Display from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Citigroup reduced their price target 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. Finally, Wall Street Zen cut Universal Display from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Universal Display has an average rating of “Hold” and a consensus price target of $163.25.

Hedge Funds Weigh In On Universal Display

Several institutional investors have recently made changes to their positions in the company. Invesco Ltd. raised its stake in shares of Universal Display by 47.1% during the 4th quarter. Invesco Ltd. now owns 219,059 shares of the semiconductor company’s stock worth $25,582,000 after acquiring an additional 70,141 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Universal Display by 4.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,096 shares of the semiconductor company’s stock valued at $595,000 after acquiring an additional 227 shares during the period. Vident Advisory LLC boosted its position in Universal Display by 16.0% in the 4th quarter. Vident Advisory LLC now owns 3,519 shares of the semiconductor company’s stock worth $411,000 after purchasing an additional 486 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in Universal Display during the fourth quarter worth $364,000. Finally, Sunstone Asset Management L.P. purchased a new position in Universal Display in the fourth quarter valued at $1,076,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

About Universal Display

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.