Photronics, Inc. (NASDAQ:PLAB) Director Mitchell G. Tyson sold 1,040 shares of the company’s stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $9.85, for a total value of $10,244.00. Following the sale, the director now owns 80,419 shares of the company’s stock, valued at $792,127.15. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Photronics traded down $0.05, reaching $9.25, on Friday, according to Marketbeat. The stock had a trading volume of 537,946 shares, compared to its average volume of 509,967. Photronics, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $10.80. The company has a quick ratio of 5.28, a current ratio of 3.00 and a debt-to-equity ratio of 0.06. The stock has a market cap of $635.90 million, a PE ratio of 48.55, a PEG ratio of 2.39 and a beta of 0.51.
Photronics (NASDAQ:PLAB) last issued its earnings results on Tuesday, May 22nd. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. Photronics had a return on equity of 2.92% and a net margin of 5.33%. The business had revenue of $130.78 million during the quarter, compared to analysts’ expectations of $124.17 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. equities research analysts expect that Photronics, Inc. will post 0.38 EPS for the current year.
Several brokerages recently weighed in on PLAB. ValuEngine upgraded Photronics from a “sell” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus upped their price objective on Photronics from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Wednesday. BidaskClub upgraded Photronics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 20th. Finally, Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a research report on Friday, February 16th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $11.50.
Institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN increased its stake in shares of Photronics by 51.8% in the third quarter. Wells Fargo & Company MN now owns 73,014 shares of the semiconductor company’s stock valued at $646,000 after buying an additional 24,928 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Photronics in the fourth quarter valued at about $253,000. Schwab Charles Investment Management Inc. increased its stake in shares of Photronics by 9.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 567,209 shares of the semiconductor company’s stock valued at $4,836,000 after buying an additional 46,897 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Photronics in the fourth quarter valued at about $116,000. Finally, Texas Permanent School Fund acquired a new stake in shares of Photronics in the fourth quarter valued at about $397,000. 93.63% of the stock is owned by institutional investors and hedge funds.
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 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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