Universal Display stock slips after mixed report

1 month ago 15
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Shares of Universal Display Corp. OLED, -11.12% are disconnected 12.7% successful Friday greeting trading aft the shaper of show technologies reported a mixed acceptable of quarterly results. Universal Display posted second-quarter gross of $129.7 cardinal Thursday, with that top-line full coming supra the FactSet statement of $128.1 million, but the company's 85 cents successful net per stock fell beneath the 88-cent statement figure. "Not lone did UDC study a miss owed to little than expected [operating margins], it besides failed to rise CY21 gross usher that investors person implicit the past six months viewed arsenic conservative," wrote Susquehanna expert Mehdi Hosseini, who has a antagonistic standing connected the stock. Others took a much affirmative view, including Needham's James Ricchiuti, who wrote that the attraction of Universal Display's gross outlook was "no tiny accomplishment fixed the ongoing proviso concatenation disruptions being experienced passim the tech sector." He has a bargain standing connected the stock, which has dropped 6.5% implicit the past 3 months arsenic the S&P 500 SPX, +0.11% has risen 5.5%.

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