Photronics Inc. (NASDAQ:PLAB) has earned an average recommendation of “Buy” from the five analysts that are covering the company. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $12.75.
Several equities research analysts have issued reports on PLAB shares. Zacks Investment Research cut shares of Photronics from a “hold” rating to a “sell” rating in a research note on Wednesday, September 7th. DA Davidson reissued a “buy” rating and set a $15.00 price target on shares of Photronics in a research report on Monday, August 22nd.
In other Photronics news, Director Joseph A. Fiorita, Jr. sold 12,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $10.00, for a total value of $120,000.00. Following the transaction, the director now owns 161,100 shares of the company’s stock, valued at $1,611,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Walter M. Fiederowicz sold 21,250 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $9.95, for a total transaction of $211,437.50. Following the completion of the transaction, the director now directly owns 42,250 shares in the company, valued at approximately $420,387.50. The disclosure for this sale can be found here. Insiders own 4.12% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. boosted its position in Photronics by 10.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 661,224 shares of the company’s stock worth $5,892,000 after buying an additional 63,035 shares during the last quarter. National Asset Management Inc. boosted its position in Photronics by 11.5% in the second quarter. National Asset Management Inc. now owns 12,044 shares of the company’s stock worth $109,000 after buying an additional 1,247 shares during the last quarter. Highbridge Capital Management LLC bought a new position in Photronics during the second quarter worth approximately $781,000. Cubist Systematic Strategies LLC bought a new position in Photronics during the second quarter worth approximately $179,000. Finally, AQR Capital Management LLC boosted its position in Photronics by 124.5% in the second quarter. AQR Capital Management LLC now owns 423,059 shares of the company’s stock worth $3,770,000 after buying an additional 234,612 shares during the last quarter. 98.92% of the stock is currently owned by institutional investors.
Photronics (NASDAQ:PLAB) traded down 2.65% on Monday, reaching $10.30. 260,966 shares of the company’s stock were exchanged. Photronics has a one year low of $8.56 and a one year high of $13.05. The firm has a 50 day moving average of $9.77 and a 200-day moving average of $9.80. The stock has a market cap of $702.32 million, a price-to-earnings ratio of 12.64 and a beta of 1.08.
Photronics (NASDAQ:PLAB) last announced its earnings results on Thursday, August 18th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.02. Photronics had a return on equity of 6.07% and a net margin of 11.50%. The business had revenue of $123.20 million for the quarter, compared to analyst estimates of $123.54 million. During the same period last year, the firm earned $0.17 EPS. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. Equities research analysts forecast that Photronics will post $0.55 EPS for the current fiscal year.
Photronics Company Profile
Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. The Company supports customers across the full spectrum of integrated circuit (IC) production and flat panel display (FPD) technologies by manufacturing photomasks using electron beam or optical (laser-based) systems.
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