$151.65 Million in Sales Expected for Universal Display Co. (NASDAQ:OLED) This Quarter

Wall Street analysts expect Universal Display Co. (NASDAQ:OLEDGet Rating) to report $151.65 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Universal Display’s earnings. The lowest sales estimate is $146.90 million and the highest is $155.00 million. Universal Display reported sales of $129.66 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 17%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Universal Display will report full year sales of $640.38 million for the current financial year, with estimates ranging from $637.50 million to $643.57 million. For the next year, analysts anticipate that the business will post sales of $742.78 million, with estimates ranging from $724.44 million to $750.80 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Universal Display.

Universal Display (NASDAQ:OLEDGet Rating) last released its quarterly earnings data on Thursday, May 5th. The semiconductor company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.10. The business had revenue of $150.50 million for the quarter, compared to analysts’ expectations of $143.81 million. Universal Display had a return on equity of 17.14% and a net margin of 32.02%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.08 EPS.

Several equities analysts have recently weighed in on OLED shares. StockNews.com started coverage on Universal Display in a report on Thursday, March 31st. They set a “hold” rating on the stock. Citigroup lowered their price target on Universal Display from $248.00 to $188.00 in a report on Thursday, February 3rd. Needham & Company LLC decreased their target price on Universal Display from $195.00 to $165.00 in a report on Friday, May 6th. Zacks Investment Research raised Universal Display from a “sell” rating to a “hold” rating and set a $145.00 target price on the stock in a report on Tuesday, April 26th. Finally, Cowen decreased their target price on Universal Display from $225.00 to $175.00 in a report on Thursday, February 24th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $198.88.

NASDAQ OLED opened at $129.92 on Friday. The business’s fifty day moving average price is $138.88 and its 200-day moving average price is $148.96. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 1.19 and a beta of 1.41. Universal Display has a 1-year low of $114.27 and a 1-year high of $237.00.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $1.20 dividend on an annualized basis and a yield of 0.92%. Universal Display’s payout ratio is presently 31.33%.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in Universal Display by 2.8% in the 1st quarter. BlackRock Inc. now owns 4,309,400 shares of the semiconductor company’s stock worth $719,455,000 after buying an additional 117,055 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Universal Display by 6.0% during the first quarter. Vanguard Group Inc. now owns 4,266,391 shares of the semiconductor company’s stock valued at $712,274,000 after purchasing an additional 241,855 shares in the last quarter. State Street Corp grew its position in shares of Universal Display by 10.2% during the fourth quarter. State Street Corp now owns 1,388,245 shares of the semiconductor company’s stock valued at $229,102,000 after purchasing an additional 128,230 shares in the last quarter. Norges Bank purchased a new position in shares of Universal Display during the fourth quarter valued at about $145,139,000. Finally, JPMorgan Chase & Co. grew its position in shares of Universal Display by 42.3% during the first quarter. JPMorgan Chase & Co. now owns 838,603 shares of the semiconductor company’s stock valued at $140,006,000 after purchasing an additional 249,377 shares in the last quarter. Institutional investors and hedge funds own 71.15% of the company’s stock.

About Universal Display (Get Rating)

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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