Photronics Inc. (NASDAQ:PLAB) has been given a $12.00 price objective by equities research analysts at SunTrust Banks Inc. in a research note issued on Tuesday. The firm presently has a a “buy” rating on the stock. SunTrust Banks Inc.’s price objective would suggest a potential upside of 13.21% from the stock’s previous close.
A number of other equities research analysts have also weighed in on PLAB. Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a research report on Friday, July 8th. DA Davidson restated a “buy” rating and issued a $15.00 target price on shares of Photronics in a research note on Monday, August 22nd.
Shares of Photronics (NASDAQ:PLAB) opened at 10.60 on Tuesday. Photronics has a 12-month low of $8.56 and a 12-month high of $13.05. The firm has a market cap of $722.77 million, a P/E ratio of 13.01 and a beta of 0.85. The stock’s 50 day moving average price is $9.87 and its 200-day moving average price is $9.82.
Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Thursday, August 18th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.02. The business earned $123.20 million during the quarter, compared to the consensus estimate of $123.54 million. Photronics had a return on equity of 6.07% and a net margin of 11.50%. Photronics’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 earnings per share. On average, analysts predict that Photronics will post $0.55 earnings per share for the current fiscal year.
In other Photronics news, Director Joseph A. Fiorita, Jr. sold 12,000 shares of Photronics stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $10.00, for a total transaction of $120,000.00. Following the completion of the transaction, the director now owns 161,100 shares in the company, valued at $1,611,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Walter M. Fiederowicz sold 21,250 shares of Photronics stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $9.95, for a total value of $211,437.50. Following the transaction, the director now owns 42,250 shares of the company’s stock, valued at approximately $420,387.50. The disclosure for this sale can be found here. 4.12% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in PLAB. National Asset Management Inc. boosted its position 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 worth $109,000 after buying an additional 1,247 shares during the last quarter. Frontier Wealth Management LLC bought a new position in shares of Photronics during the second quarter worth about $110,000. Acrospire Investment Management LLC bought a new position in shares of Photronics during the first quarter worth about $116,000. Icon Advisers Inc. Co. bought a new position in shares of Photronics during the second quarter worth about $150,000. Finally, BlackRock Inc. boosted its position in shares of Photronics by 340.5% in the second quarter. BlackRock Inc. now owns 17,225 shares of the company’s stock worth $154,000 after buying an additional 13,315 shares during the last quarter. Institutional investors and hedge funds own 98.92% of the company’s stock.
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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