Brokerages expect that Universal Display Co. will post sales of USD 87.68 million for the current quarter. Three analysts have made estimates for Universal Display’s earnings, with estimates ranging from USD 82.00 million to USD 90.80 million. Universal Display posted sales of USD 61.68 million during the same quarter last year, which suggests a positive year over year growth rate of 42.2 percent. The business is expected to issue its next quarterly earnings results after the market closes
On average, analysts expect that Universal Display will report full-year sales of USD 296.27 million for the current year, with estimates ranging from USD 291.80 million to USD 300.30 million. For the next financial year, analysts forecast that the business will post sales of USD 430.61 million, with estimates ranging from USD 377.00 million to USD 460.05 million. Sales averages are an average based on a survey of sell-side research firms that follow Universal Display.
The semiconductor company reported USD 0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of USD 0.15 by USD 0.08. Universal Display had a return on equity of 11.59 percent and a net margin of 22.76 percent. The firm had revenue of USD 56.15 million during the quarter, compared to analyst estimates of USD 49.64 million. During the same quarter in the prior year, the company earned USD 0.99 EPS. The business’s revenue was down 45.2 percent compared to the same quarter last year.
OLED has been the subject of several research reports. CIBC increased their target price on Universal Display from USD 120.00 to USD 140.00 and gave the stock an “outperform” rating. BidaskClub raised Universal Display from a “hold” rating to a “buy. Needham & Company LLC increased their target price on Universal Display from USD 130.00 to USD 145.00 and gave the stock a “buy” .Finally. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. Universal Display presently has a consensus rating of “Buy” and a consensus price target of USD 167.58.
Shares of OLED opened at USD 123.01 only Universal Display has a 52-week low of USD 78.75 and a 52-week high of USD 209.00. The company has a market capitalization of USD 4.92 billion, a PE ratio of 50.62 and a beta of 1.81.
In other news, Director Lawrence Lacerte sold 15,000 shares of the firm’s stock in a transaction. The stock was sold at an average price of USD 119.51, for a total value of USD 1,792,650.00. Following the transaction, the director now directly owns 348,950 shares in the company, valued at approximately USD 41,703,014.50. Also, VP Mauro Premutico sold 10,044 shares of the firm’s stock in a transaction. The stock was sold at an average price of USD 123.63, for a total value of USD 1,241,739.72.
Dimensional Fund Advisors LP boosted its stake in shares of Universal Display by 4.1 percent in the 1st quarter. Dimensional Fund Advisors LP now owns 186,487 shares of the semiconductor company’s stock worth USD 18,835,000 after buying an additional 7376 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Universal Display by 30.4 percent in the 1st quarter. Stifel Financial Corp now owns 6,176 shares of the semiconductor company’s stock worth USD 624,000 after buying an additional 1,440 shares during the last quarter. A.R.T. Advisors LLC purchased a new position in shares of Universal Display in the 1st quarter worth USD 424,000. Millennium Management LLC boosted its stake in shares of Universal Display by 104.8 percent in the 1st quarter. Millennium Management LLC now owns 127,673 shares of the semiconductor company’s stock worth USD 12,895,000 after buying an additional 65,327 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of Universal Display in the 1st quarter worth USD 466,000. Hedge funds and other institutional investors own 73.77 percent of the company’s stock. — Baseball Daily Digest