Shares of Photronics Inc. (NASDAQ:PLAB) have earned an average recommendation of “Buy” from the five analysts that are covering the firm. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $12.75.
A number of brokerages have weighed in on PLAB. Zacks Investment Research upgraded shares of Photronics from a “sell” rating to a “hold” rating in a report on Thursday, September 1st. DA Davidson reiterated a “buy” rating and issued a $15.00 price target on shares of Photronics in a report on Monday, August 22nd.
In related news, Director Joseph A. Fiorita, Jr. sold 12,000 shares of Photronics stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $10.00, for a total transaction of $120,000.00. Following the sale, the director now owns 161,100 shares of the company’s stock, valued at approximately $1,611,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Walter M. Fiederowicz sold 21,250 shares of Photronics stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $9.95, for a total transaction of $211,437.50. Following the sale, the director now directly owns 42,250 shares in the company, valued at approximately $420,387.50. The disclosure for this sale can be found here. Corporate insiders own 4.12% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in Photronics by 39.9% in the first quarter. Franklin Resources Inc. now owns 5,172,100 shares of the company’s stock valued at $53,842,000 after buying an additional 1,474,100 shares during the period. Lombardia Capital Partners LLC increased its stake in Photronics by 413.4% in the second quarter. Lombardia Capital Partners LLC now owns 1,107,238 shares of the company’s stock valued at $9,865,000 after buying an additional 891,580 shares during the period. Cortina Asset Management LLC purchased a new stake in Photronics during the second quarter valued at about $3,725,000. Prudential Financial Inc. increased its stake in Photronics by 162.2% in the second quarter. Prudential Financial Inc. now owns 554,648 shares of the company’s stock valued at $4,942,000 after buying an additional 343,100 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new stake in Photronics during the second quarter valued at about $2,682,000. 98.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Photronics (NASDAQ:PLAB) opened at 10.31 on Monday. The firm’s 50-day moving average price is $9.83 and its 200-day moving average price is $9.81. The firm has a market cap of $703.00 million, a PE ratio of 12.65 and a beta of 1.08. Photronics has a 12 month low of $8.56 and a 12 month high of $13.05.
Photronics (NASDAQ:PLAB) last announced its quarterly earnings results 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 company earned $123.20 million during the quarter, compared to analyst estimates of $123.54 million. Photronics had a net margin of 11.50% and a return on equity of 6.07%. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.17 EPS. Analysts expect that Photronics will post $0.55 earnings per share for the current year.
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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