Photronics (PLAB) Hits New 52-Week High at $11.18

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Photronics, Inc. (NASDAQ:PLAB) reached a new 52-week high during trading on Tuesday . The company traded as high as $11.18 and last traded at $11.13, with a volume of 19909 shares trading hands. The stock had previously closed at $10.90.

A number of equities research analysts have recently commented on PLAB shares. Zacks Investment Research cut Photronics from a “hold” rating to a “sell” rating in a research report on Tuesday, January 1st. ValuEngine cut Photronics from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $11.00.

The firm has a market capitalization of $718.13 million, a PE ratio of 19.02, a PEG ratio of 2.26 and a beta of 0.59.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings data on Wednesday, December 12th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Photronics had a return on equity of 4.38% and a net margin of 7.86%. The company had revenue of $144.70 million for the quarter, compared to analysts’ expectations of $137.20 million. During the same period in the previous year, the firm posted $0.08 EPS. Photronics’s revenue was up 19.6% compared to the same quarter last year. As a group, research analysts forecast that Photronics, Inc. will post 0.47 earnings per share for the current fiscal year.

In other news, Director George Macricostas sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 27th. The stock was sold at an average price of $9.60, for a total transaction of $28,800.00. Following the transaction, the director now directly owns 55,000 shares in the company, valued at approximately $528,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Christopher J. Progler sold 9,475 shares of the business’s stock in a transaction that occurred on Thursday, January 3rd. The stock was sold at an average price of $9.42, for a total value of $89,254.50. Following the transaction, the vice president now owns 121,900 shares in the company, valued at $1,148,298. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,642 shares of company stock worth $974,068. Insiders own 3.73% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Malaga Cove Capital LLC boosted its holdings in shares of Photronics by 1.7% during the 4th quarter. Malaga Cove Capital LLC now owns 54,970 shares of the semiconductor company’s stock worth $524,000 after purchasing an additional 936 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Photronics by 0.9% during the 4th quarter. Victory Capital Management Inc. now owns 136,128 shares of the semiconductor company’s stock worth $1,318,000 after purchasing an additional 1,267 shares during the last quarter. Palouse Capital Management Inc. raised its position in shares of Photronics by 5.7% during the 4th quarter. Palouse Capital Management Inc. now owns 27,591 shares of the semiconductor company’s stock valued at $267,000 after buying an additional 1,484 shares during the period. Texas Permanent School Fund raised its position in shares of Photronics by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 44,752 shares of the semiconductor company’s stock valued at $433,000 after buying an additional 1,722 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Photronics by 7.9% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 72,017 shares of the semiconductor company’s stock valued at $709,000 after buying an additional 5,276 shares during the period. Institutional investors and hedge funds own 98.09% of the company’s stock.

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Photronics Company Profile (NASDAQ:PLAB)

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 or glass 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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