OLED provider Universal Display (NASDAQ:OLED) will be announcing earnings results this Wednesday after market close. Here's what you need to know.
Universal Display missed analysts' revenue expectations last quarter, reporting revenues of $152.2 million, down 11.4% year on year. It was a mixed quarter for the company, with a beat of analysts' EPS estimates.
Is Universal Display a buy or sell going into earnings? Read our full analysis here, it's free for active Edge members .
This quarter, the market is expecting Universal Display's revenue to grow 16.5% year on year, a reversal from the 13.6% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Universal Display has missed Wall Street's revenue estimates multiple times over the last two years.
Looking at Universal Display's peers in the semiconductors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Texas Instruments delivered year-on-year revenue growth of 27.7%, beating analysts' expectations by 2.6%, and Penguin Solutions reported revenues up 67.7%, topping estimates by 8.8%. Texas Instruments traded down 1.8% following the results while Penguin Solutions was up 13.1%.
Read our full analysis of Texas Instruments's results here and Penguin Solutions's results here .
In the last year or so, investors have shifted their focus from one macro dynamic to the next (AI disintermediation and AI investment to geopolitical conflict, interest rates, and the health of the wider economy). While some of the semiconductors stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 11.2% on average over the last month. Universal Display is up 17.2% during the same time and is heading into earnings with an average analyst price target of $113.82 (compared to the current share price of $88.45).
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