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. “
Separately, DA Davidson restated a buy rating and issued a $15.00 price objective on shares of Photronics in a report on Monday, August 22nd. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $12.80.
Photronics (NASDAQ:PLAB) opened at 10.29 on Wednesday. The company’s 50-day moving average price is $9.78 and its 200 day moving average price is $9.80. Photronics has a 52 week low of $8.56 and a 52 week high of $13.05. The company has a market capitalization of $701.63 million, a price-to-earnings ratio of 12.63 and a beta of 1.08.
Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Thursday, August 18th. The company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The company earned $123.20 million during the quarter, compared to the consensus estimate of $123.54 million. Photronics had a net margin of 11.50% and a return on equity of 6.07%. Photronics’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 EPS. On average, analysts predict that Photronics will post $0.55 EPS for the current year.
In related news, Director Walter M. Fiederowicz sold 21,250 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $9.95, for a total value of $211,437.50. Following the completion of the sale, the director now directly owns 42,250 shares in the company, valued at approximately $420,387.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph A. Fiorita, Jr. sold 12,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $10.00, for a total transaction of $120,000.00. Following the completion of the sale, the director now owns 161,100 shares of the company’s stock, valued at $1,611,000. The disclosure for this sale can be found here. 4.12% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Acrospire Investment Management LLC purchased a new stake in shares of Photronics during the first quarter valued at about $116,000. National Asset Management Inc. increased its stake in shares of Photronics by 11.5% in the second quarter. National Asset Management Inc. now owns 12,044 shares of the company’s stock valued at $109,000 after buying an additional 1,247 shares during the period. Frontier Wealth Management LLC bought a new stake in shares of Photronics during the second quarter valued at about $110,000. Icon Advisers Inc. Co. bought a new stake in shares of Photronics during the second quarter valued at about $150,000. Finally, BlackRock Inc. increased its stake in shares of Photronics by 340.5% in the second quarter. BlackRock Inc. now owns 17,225 shares of the company’s stock valued at $154,000 after buying an additional 13,315 shares during the period. Institutional investors and hedge funds own 98.92% of the company’s stock.
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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