Shares of Universal Display Corp. OLED, -10.81% are off 12.7% in Friday morning trading after the maker of display technologies reported a mixed set of quarterly results. Universal Display posted second-quarter revenue of $129.7 million Thursday, with that top-line total coming above the FactSet consensus of $128.1 million, but the company’s 85 cents in earnings per share fell below the 88-cent consensus figure. “Not only did UDC report a miss due to lower than expected [operating margins], it also failed to raise CY21 revenue guide that investors have over the past six months viewed as conservative,” wrote Susquehanna analyst Mehdi Hosseini, who has a negative rating on the stock. Others took a more positive view, including Needham’s James Ricchiuti, who wrote that the maintenance of Universal Display’s revenue outlook was “no small accomplishment given the ongoing supply chain disruptions being experienced throughout the tech sector.” He has a buy rating on the stock, which has dropped 6.5% over the past three months as the S&P 500 SPX, +0.18% has risen 5.5%.
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