Universal Display (NASDAQ:OLED) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Universal Display (NASDAQ:OLED) posted its quarterly earnings data on Thursday. The semiconductor company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14, Briefing.com reports. The company had revenue of $165.26 million for the quarter, compared to analyst estimates of $150.75 million. Universal Display had a return on equity of 15.84% and a net margin of 36.00%. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 earnings per share.

Universal Display Stock Performance

Shares of NASDAQ OLED traded up $14.50 during midday trading on Friday, hitting $170.82. 736,345 shares of the stock traded hands, compared to its average volume of 256,763. Universal Display has a one year low of $131.00 and a one year high of $194.84. The business has a 50 day moving average price of $163.28 and a two-hundred day moving average price of $169.01. The company has a market cap of $8.10 billion, a PE ratio of 37.13, a P/E/G ratio of 1.70 and a beta of 1.44.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 0.94%. Universal Display’s payout ratio is currently 34.78%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $198.00 price target on shares of Universal Display in a research report on Friday. Citigroup reiterated a “neutral” rating and set a $180.00 price target (up from $161.00) on shares of Universal Display in a report on Friday, January 19th. TD Cowen boosted their price objective on Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $200.00 target price (down previously from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $199.86.

About Universal Display

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 in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.