Oppenheimer Remains Sidelined on Universal Display (OLED) as Guidance Cut Amid Samsung Delays
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall Street slips on earnings; Apple falls late after results
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- Panera Bread (PNRA) Tops Q3 EPS by 3c; Raises Outlook
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Oppenheimer analyst Andrew Uerkwitz reiterated a Perform rating on Universal Display (NASDAQ: OLED) as revenues guidance was cut due to delays as Samsung.
Uerkwitz commented, "OLED reported 2Q16 revenues/non-GAAP EPS of $64.4M/$0.46 vs. our $69.5M/$0.51E and consensus of $69.5M/$0.51E. The company reduced its annual revenue target, citing three reasons: 1) delayed adoption of new material (likely by Samsung), 2) lower royalty revenue estimates (likely from LG), and efficiency gain at customers. Samsung's near monopoly on the OLED display market is to blame for such volatility in Universal Display's results, which we expect to remain a key concern for investors as well as OEM customers of OLED displays. Our view is unchanged by 2Q16 results; we recognize that the sizable capacity investments make OLED technology the most exciting topic in the display industry, but we choose to stay sidelined given the company's oversized exposure to Samsung in the near term."
Shares of Universal Display closed at $70.25 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Raises Price Target on II-VI, Inc. (IIVI) Following 1Q Beat
- FBR Capital Sees Under Armour (UA) Sell-Off as Buying Opportunity
- Intersil (ISIL) PT Bumped to $22 at Stifel
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Related EntitiesAndrew Uerkwitz
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!