TheStreet Upgrades Photronics (PLAB) to B-

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TheStreet upgraded shares of Photronics (NASDAQ:PLAB) from a c rating to a b- rating in a research note published on Wednesday morning, TheStreetRatingsTable reports.

A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Photronics from a hold rating to a buy rating and set a $10.00 price objective for the company in a research note on Friday. BidaskClub cut shares of Photronics from a sell rating to a strong sell rating in a research report on Tuesday, April 16th. Finally, ValuEngine cut shares of Photronics from a buy rating to a hold rating in a research report on Thursday, March 7th.

Shares of PLAB stock opened at $8.35 on Wednesday. Photronics has a 52-week low of $7.60 and a 52-week high of $11.58. The firm has a market capitalization of $559.88 million, a PE ratio of 14.40, a price-to-earnings-growth ratio of 2.12 and a beta of 0.51. The company has a quick ratio of 2.19, a current ratio of 2.33 and a debt-to-equity ratio of 0.03.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. Photronics had a net margin of 7.72% and a return on equity of 4.32%. The company had revenue of $131.60 million during the quarter, compared to analysts’ expectations of $130.05 million. During the same quarter in the prior year, the company posted $0.15 EPS. The business’s revenue was up .6% on a year-over-year basis. As a group, equities research analysts forecast that Photronics will post 0.4 earnings per share for the current year.

In other Photronics news, insider Kang Jyh Lee sold 5,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $10.14, for a total transaction of $50,700.00. Following the sale, the insider now owns 118,175 shares of the company’s stock, valued at approximately $1,198,294.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher J. Progler sold 5,600 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $9.87, for a total transaction of $55,272.00. The disclosure for this sale can be found here. Insiders have sold a total of 23,400 shares of company stock valued at $227,185 in the last quarter. 3.58% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Macquarie Group Ltd. grew its holdings in Photronics by 154.8% during the 1st quarter. Macquarie Group Ltd. now owns 6,848 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 4,160 shares during the last quarter. Investors Research Corp bought a new stake in Photronics during the 1st quarter worth about $68,000. First Quadrant L P CA bought a new position in shares of Photronics in the 4th quarter valued at about $77,000. Quantamental Technologies LLC bought a new position in shares of Photronics in the 4th quarter valued at about $101,000. Finally, Econ Financial Services Corp bought a new position in shares of Photronics in the 1st quarter valued at about $102,000. 96.30% of the stock is currently owned by hedge funds and other institutional investors.

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 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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