According to Zacks, “Photronics is a leading worldwide manufacturer of photomasks. Photomasks are high precision quartz plates that contain microscopic images of electronic circuits. A key element in the manufacture of semiconductors and flat panel displays, photomasks are used to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits, a variety of flat panel displays and, to a lesser extent, other types of electrical and optical components. They are produced in accordance with product designs provided by customers at strategically located manufacturing facilities in Asia, Europe, and North America. “
A number of other research analysts also recently commented on PLAB. TheStreet raised Photronics from a c rating to a b- rating in a report on Wednesday, December 11th. Stifel Nicolaus raised Photronics from a hold rating to a buy rating and increased their price target for the company from $11.00 to $16.00 in a report on Sunday, February 9th. BidaskClub downgraded Photronics from a buy rating to a hold rating in a report on Saturday, February 1st. Northland Securities set a $15.00 price objective on Photronics and gave the company a buy rating in a research note on Monday, October 21st. Finally, DA Davidson restated a buy rating and set a $18.00 price objective on shares of Photronics in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $16.75.
Shares of PLAB opened at $14.82 on Tuesday. The company has a market capitalization of $969.47 million, a P/E ratio of 32.22 and a beta of 0.58. Photronics has a one year low of $7.95 and a one year high of $16.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.50 and a current ratio of 2.81. The stock has a 50-day moving average price of $14.66 and a 200 day moving average price of $12.24.
Photronics (NASDAQ:PLAB) last issued its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. The firm had revenue of $156.30 million during the quarter, compared to the consensus estimate of $147.37 million. Photronics had a return on equity of 3.29% and a net margin of 5.41%. Photronics’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 earnings per share. As a group, equities research analysts forecast that Photronics will post 0.87 earnings per share for the current fiscal year.
In other Photronics news, VP Richelle E. Burr sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $11.83, for a total transaction of $35,490.00. Following the sale, the vice president now owns 60,524 shares in the company, valued at $715,998.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph A. Fiorita, Jr. sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $12.31, for a total value of $30,775.00. Following the sale, the director now owns 197,600 shares in the company, valued at approximately $2,432,456. The disclosure for this sale can be found here. Insiders have sold 133,563 shares of company stock worth $1,969,811 in the last 90 days. 3.58% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Emerald Advisers LLC acquired a new stake in Photronics during the fourth quarter valued at approximately $51,000. AJO LP acquired a new stake in shares of Photronics during the 4th quarter worth approximately $54,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Photronics during the 4th quarter worth approximately $58,000. Aigen Investment Management LP acquired a new stake in shares of Photronics during the 4th quarter worth approximately $89,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Photronics during the 4th quarter worth approximately $99,000. Hedge funds and other institutional investors own 96.46% of the company’s stock.
Photronics Company Profile
Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz or glass plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.
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