Universal Display (NASDAQ:OLED – Get Rating) issued its earnings results on Thursday. The semiconductor company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.13), Briefing.com reports. The firm had revenue of $136.60 million during the quarter, compared to analyst estimates of $151.21 million. Universal Display had a net margin of 32.02% and a return on equity of 17.14%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $0.85 EPS. Universal Display updated its FY 2022 guidance to EPS.
Universal Display Price Performance
Shares of OLED traded up $6.36 during mid-day trading on Friday, reaching $125.41. 884,460 shares of the company’s stock were exchanged, compared to its average volume of 436,320. The stock has a market capitalization of $5.92 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 1.33 and a beta of 1.46. The business’s fifty day simple moving average is $113.46 and its 200-day simple moving average is $134.65. Universal Display has a 52-week low of $98.71 and a 52-week high of $220.23.
Analysts Set New Price Targets
OLED has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Universal Display from $180.00 to $150.00 and set a “buy” rating on the stock in a report on Monday. Cowen reduced their target price on shares of Universal Display from $175.00 to $145.00 in a report on Friday. Bank of America cut shares of Universal Display from a “buy” rating to a “neutral” rating and reduced their target price for the company from $190.00 to $135.00 in a report on Wednesday, June 29th. Cowen dropped their price target on shares of Universal Display from $175.00 to $145.00 in a research note on Friday. Finally, Needham & Company LLC dropped their price target on shares of Universal Display from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, July 26th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Universal Display currently has a consensus rating of “Moderate Buy” and an average target price of $168.30.
Hedge Funds Weigh In On Universal Display
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. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide.
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