Universal Display Corporation (OLED) Expected to Post Quarterly Sales of $46.51 Million

Analysts forecast that Universal Display Corporation (NASDAQ:OLED) will announce $46.51 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Universal Display Corporation’s earnings, with the lowest sales estimate coming in at $45.10 million and the highest estimate coming in at $47.91 million. Universal Display Corporation reported sales of $30.21 million during the same quarter last year, which would suggest a positive year over year growth rate of 54%. The firm is expected to issue its next quarterly earnings results on Thursday, November 2nd.

According to Zacks, analysts expect that Universal Display Corporation will report full year sales of $46.51 million for the current fiscal year, with estimates ranging from $294.20 million to $300.16 million. For the next fiscal year, analysts forecast that the firm will report sales of $366.35 million per share, with estimates ranging from $328.20 million to $388.84 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Universal Display Corporation.

Universal Display Corporation (NASDAQ:OLED) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.31. The firm had revenue of $102.50 million for the quarter, compared to the consensus estimate of $84.81 million. Universal Display Corporation had a return on equity of 14.90% and a net margin of 31.15%. The company’s revenue for the quarter was up 59.2% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS.

OLED has been the topic of several research reports. Cowen and Company set a $140.00 target price on Universal Display Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research raised Universal Display Corporation from a “hold” rating to a “strong-buy” rating and set a $136.00 target price on the stock in a research report on Thursday, August 10th. BidaskClub raised Universal Display Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 9th. Deutsche Bank AG initiated coverage on Universal Display Corporation in a research report on Wednesday, August 30th. They issued a “buy” rating and a $135.00 target price on the stock. Finally, Susquehanna Bancshares Inc reissued a “positive” rating on shares of Universal Display Corporation in a research report on Thursday, July 13th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $119.89.

In other news, CEO Steven V. Abramson sold 18,000 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $124.53, for a total transaction of $2,241,540.00. Following the sale, the chief executive officer now directly owns 262,888 shares of the company’s stock, valued at approximately $32,737,442.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Julia J. Brown sold 10,000 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the sale, the insider now directly owns 162,932 shares in the company, valued at $20,366,500. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Universal Display Corporation by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 3,403,157 shares of the semiconductor company’s stock worth $293,012,000 after acquiring an additional 141,268 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Universal Display Corporation by 82,293.2% during the 1st quarter. BlackRock Inc. now owns 2,817,024 shares of the semiconductor company’s stock worth $242,545,000 after acquiring an additional 2,813,605 shares in the last quarter. State Street Corp boosted its stake in shares of Universal Display Corporation by 3.1% during the 1st quarter. State Street Corp now owns 788,727 shares of the semiconductor company’s stock worth $67,909,000 after acquiring an additional 23,770 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Universal Display Corporation by 18.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock worth $66,257,000 after acquiring an additional 93,223 shares in the last quarter. Finally, Newbrook Capital Advisors LP boosted its stake in shares of Universal Display Corporation by 49.4% during the 2nd quarter. Newbrook Capital Advisors LP now owns 558,174 shares of the semiconductor company’s stock worth $60,981,000 after acquiring an additional 184,683 shares in the last quarter. 64.09% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Corporation (NASDAQ:OLED) opened at 132.05 on Monday. The stock has a market capitalization of $6.21 billion, a P/E ratio of 76.55 and a beta of 0.98. Universal Display Corporation has a 52-week low of $47.88 and a 52-week high of $134.89. The company’s 50-day moving average price is $119.55 and its 200 day moving average price is $106.78.

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Thursday, September 14th. Universal Display Corporation’s dividend payout ratio is currently 6.94%.

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Universal Display Corporation Company Profile

Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.

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Earnings History and Estimates for Universal Display Corporation (NASDAQ:OLED)

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