Photronics (NASDAQ:PLAB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, February 16th.
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 equities analysts have also recently issued reports on PLAB. BidaskClub cut shares of Photronics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 30th. ValuEngine cut shares of Photronics from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, DA Davidson reiterated a “buy” rating and issued a $13.00 price target on shares of Photronics in a research note on Monday, November 27th.
Shares of Photronics (NASDAQ PLAB) remained flat at $$9.20 during mid-day trading on Friday. 1,251,846 shares of the company’s stock traded hands, compared to its average volume of 573,205. Photronics has a twelve month low of $7.20 and a twelve month high of $11.75. The stock has a market cap of $632.40, a P/E ratio of 35.27, a PEG ratio of 2.38 and a beta of 0.58. The company has a current ratio of 5.59, a quick ratio of 5.28 and a debt-to-equity ratio of 0.06.
Photronics (NASDAQ:PLAB) last announced its earnings results on Wednesday, February 14th. The semiconductor company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.03. The firm had revenue of $123.40 million for the quarter, compared to analysts’ expectations of $114.13 million. Photronics had a net margin of 3.68% and a return on equity of 1.96%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 EPS. sell-side analysts forecast that Photronics will post 0.38 earnings per share for the current year.
In other Photronics news, Director Constantine S. Macricostas sold 400,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $7.73, for a total value of $3,092,000.00. Following the completion of the transaction, the director now owns 692,575 shares of the company’s stock, valued at approximately $5,353,604.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Constantine S. Macricostas sold 200,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $7.75, for a total value of $1,550,000.00. Following the completion of the transaction, the director now directly owns 692,575 shares of the company’s stock, valued at approximately $5,367,456.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 604,580 shares of company stock worth $4,681,180. 3.73% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the business. Group One Trading L.P. raised its position in Photronics by 90.8% in the 3rd quarter. Group One Trading L.P. now owns 11,977 shares of the semiconductor company’s stock worth $106,000 after buying an additional 5,700 shares during the last quarter. Aperio Group LLC purchased a new position in Photronics in the 4th quarter worth about $110,000. Emerald Mutual Fund Advisers Trust purchased a new position in Photronics in the 3rd quarter worth about $114,000. State of Alaska Department of Revenue purchased a new position in Photronics in the 4th quarter worth about $116,000. Finally, Wolverine Trading LLC purchased a new position in Photronics in the 3rd quarter worth about $117,000. 98.64% of the stock is owned by institutional investors and hedge funds.
Photronics Company Profile
Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. As of October 30, 2016, the Company operated principally from nine manufacturing facilities: two located in Europe, three in Taiwan, one in Korea and three in the United States.
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