Universal Display (NASDAQ:OLED) Releases Earnings Results, Misses Expectations By $0.13 EPS

Universal Display (NASDAQ:OLEDGet Rating) issued its quarterly earnings data on Thursday. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.13), Briefing.com reports. Universal Display had a return on equity of 17.14% and a net margin of 32.02%. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $151.21 million. During the same period in the previous year, the firm earned $0.85 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Universal Display updated its FY 2022 guidance to EPS.

Universal Display Stock Performance

Shares of OLED traded up $6.36 during trading hours on Friday, hitting $125.41. The stock had a trading volume of 884,460 shares, compared to its average volume of 436,320. The firm has a 50-day moving average price of $113.46 and a 200 day moving average price of $134.65. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 1.33 and a beta of 1.46. Universal Display has a fifty-two week low of $98.71 and a fifty-two week high of $220.23.

Hedge Funds Weigh In On Universal Display

A number of large investors have recently added to or reduced their stakes in OLED. Yousif Capital Management LLC grew its holdings 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 buying an additional 239 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Universal Display by 2.0% in the first quarter. HighTower Advisors LLC now owns 9,647 shares of the semiconductor company’s stock valued at $1,610,000 after purchasing an additional 189 shares during the period. First Republic Investment Management Inc. grew its holdings in shares of Universal Display by 7.8% in the first quarter. First Republic Investment Management Inc. now owns 7,999 shares of the semiconductor company’s stock valued at $1,335,000 after purchasing an additional 576 shares during the period. Synovus Financial Corp purchased a new stake in shares of Universal Display in the first quarter valued at about $1,005,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Universal Display in the first quarter valued at about $783,000. 71.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Needham & Company LLC cut their price objective on shares of Universal Display from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, July 26th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Universal Display from $180.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday. Cowen cut their price objective on shares of Universal Display from $175.00 to $145.00 in a research report on Friday. Cowen dropped their target price on shares of Universal Display from $175.00 to $145.00 in a research report on Friday. Finally, Bank of America downgraded shares of Universal Display from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $190.00 to $135.00 in a research report on Wednesday, June 29th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.30.

Universal Display Company Profile

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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. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide.

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Earnings History for Universal Display (NASDAQ:OLED)

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