ValuEngine cut shares of Photronics (NASDAQ:PLAB) from a hold rating to a sell rating in a research report report published on Wednesday.
Several other analysts have also commented on PLAB. BidaskClub lowered shares of Photronics from a sell rating to a strong sell rating in a report on Tuesday, January 30th. Zacks Investment Research lowered shares of Photronics from a hold rating to a strong sell rating in a report on Saturday, December 2nd. Finally, DA Davidson restated a buy rating and issued a $13.00 price objective on shares of Photronics in a report on Monday, November 27th.
Photronics (PLAB) traded up $0.20 during midday trading on Wednesday, hitting $8.80. The company had a trading volume of 448,047 shares, compared to its average volume of 522,969. The company has a quick ratio of 5.28, a current ratio of 5.59 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $596.57, a PE ratio of 33.85, a PEG ratio of 2.26 and a beta of 0.58. Photronics has a 12 month low of $7.20 and a 12 month high of $11.75.
In other Photronics news, Director Constantine S. Macricostas sold 400,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $7.73, for a total value of $3,092,000.00. Following the completion of the sale, the director now directly owns 692,575 shares in the company, valued at $5,353,604.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richelle E. Burr sold 4,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $9.00, for a total transaction of $36,000.00. Following the completion of the sale, the vice president now owns 41,109 shares of the company’s stock, valued at $369,981. The disclosure for this sale can be found here. Insiders sold 607,540 shares of company stock valued at $4,708,340 over the last 90 days. 3.73% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Photronics by 99.7% in the fourth quarter. BlackRock Inc. now owns 8,932,962 shares of the semiconductor company’s stock worth $76,153,000 after buying an additional 4,458,990 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Photronics by 3.2% during the second quarter. Vanguard Group Inc. now owns 2,952,069 shares of the semiconductor company’s stock valued at $27,750,000 after purchasing an additional 91,349 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Photronics by 14.2% during the fourth quarter. Bank of New York Mellon Corp now owns 2,502,387 shares of the semiconductor company’s stock valued at $21,333,000 after purchasing an additional 311,985 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Photronics by 6.0% during the fourth quarter. Wedge Capital Management L L P NC now owns 1,531,349 shares of the semiconductor company’s stock valued at $13,055,000 after purchasing an additional 86,723 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Photronics by 2.5% during the second quarter. State Street Corp now owns 1,424,985 shares of the semiconductor company’s stock valued at $13,395,000 after purchasing an additional 35,414 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.
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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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