Zacks Investment Research upgraded shares of Photronics (NASDAQ:PLAB) from a sell rating to a hold rating in a report issued on Friday morning.
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 research firms also recently commented on PLAB. DA Davidson reaffirmed a buy rating and issued a $13.00 price objective on shares of Photronics in a report on Monday, November 27th. BidaskClub downgraded shares of Photronics from a hold rating to a sell rating in a report on Tuesday, December 12th. Finally, ValuEngine downgraded shares of Photronics from a hold rating to a sell rating in a report on Friday, February 2nd.
Photronics (PLAB) traded down $0.35 during mid-day trading on Friday, hitting $7.75. 670,993 shares of the stock were exchanged, compared to its average volume of 668,918. Photronics has a twelve month low of $7.20 and a twelve month high of $11.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.59 and a quick ratio of 5.20. The firm has a market capitalization of $559.33, a P/E ratio of 29.81, a P/E/G ratio of 2.13 and a beta of 0.52.
Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $123.40 million during the quarter, compared to the consensus estimate of $114.13 million. Photronics had a net margin of 3.68% and a return on equity of 1.96%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 earnings per share. research analysts forecast that Photronics will post 0.38 EPS for the current fiscal year.
In other Photronics news, SVP Sean T. Smith sold 12,500 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $9.43, for a total value of $117,875.00. Following the sale, the senior vice president now directly owns 152,858 shares in the company, valued at $1,441,450.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher J. Progler sold 4,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $9.55, for a total value of $38,200.00. Following the completion of the sale, the vice president now owns 78,900 shares in the company, valued at $753,495. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,040 shares of company stock valued at $452,165. 3.71% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. MetLife Investment Advisors LLC bought a new stake in Photronics in the fourth quarter valued at $259,000. Municipal Employees Retirement System of Michigan lifted its stake in Photronics by 70.7% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 107,420 shares of the semiconductor company’s stock valued at $915,000 after buying an additional 44,480 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Photronics by 328.1% in the fourth quarter. Macquarie Group Ltd. now owns 43,798 shares of the semiconductor company’s stock valued at $373,000 after buying an additional 33,567 shares during the last quarter. Millennium Management LLC lifted its stake in Photronics by 29.0% in the fourth quarter. Millennium Management LLC now owns 1,030,270 shares of the semiconductor company’s stock valued at $8,783,000 after buying an additional 231,914 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Photronics in the fourth quarter valued at $202,000. Institutional investors own 94.39% of the company’s stock.
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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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