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. “
Several other research analysts also recently issued reports on the stock. BidaskClub downgraded shares of Photronics from a buy rating to a hold rating in a research report on Saturday, February 1st. DA Davidson reissued a buy rating and set a $18.00 price objective on shares of Photronics in a research report on Thursday, December 12th. TheStreet raised shares of Photronics from a c rating to a b- rating in a research report on Wednesday, December 11th. Northland Securities set a $15.00 price objective on shares of Photronics and gave the stock a buy rating in a research report on Monday, October 21st. Finally, Stifel Nicolaus raised shares of Photronics from a hold rating to a buy rating and lifted their target price for the company from $11.00 to $16.00 in a report on Sunday, February 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $16.75.
Shares of Photronics stock opened at $15.02 on Tuesday. Photronics has a 1 year low of $7.95 and a 1 year high of $16.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.50 and a current ratio of 2.81. The company has a market capitalization of $982.55 million, a P/E ratio of 32.65 and a beta of 0.58. The company’s fifty day moving average is $14.69 and its two-hundred day moving average is $12.21.
Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. Photronics had a net margin of 5.41% and a return on equity of 3.29%. The company had revenue of $156.30 million for the quarter, compared to the consensus estimate of $147.37 million. During the same period last year, the firm posted $0.18 EPS. Photronics’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities analysts expect that Photronics will post 0.87 earnings per share for the current year.
In other news, VP Richelle E. Burr sold 3,000 shares of Photronics stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $11.83, for a total value of $35,490.00. Following the sale, the vice president now owns 60,524 shares of the company’s stock, valued at $715,998.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph A. Fiorita, Jr. sold 2,500 shares of Photronics stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $12.31, for a total transaction of $30,775.00. Following the completion of the sale, the director now directly owns 197,600 shares in the company, valued at approximately $2,432,456. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,563 shares of company stock worth $1,969,811. Insiders own 3.58% of the company’s stock.
Several large investors have recently modified their holdings of the company. Amalgamated Bank boosted its holdings in shares of Photronics by 8.6% in the fourth quarter. Amalgamated Bank now owns 11,102 shares of the semiconductor company’s stock valued at $175,000 after acquiring an additional 879 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Photronics by 4.6% in the second quarter. Royal Bank of Canada now owns 33,503 shares of the semiconductor company’s stock valued at $275,000 after acquiring an additional 1,463 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in Photronics by 8.2% during the third quarter. Metropolitan Life Insurance Co NY now owns 20,056 shares of the semiconductor company’s stock worth $218,000 after buying an additional 1,518 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in Photronics by 8.5% during the third quarter. State of Tennessee Treasury Department now owns 30,516 shares of the semiconductor company’s stock worth $332,000 after buying an additional 2,399 shares in the last quarter. Finally, Voit & Company LLC boosted its holdings in Photronics by 21.8% during the third quarter. Voit & Company LLC now owns 13,950 shares of the semiconductor company’s stock worth $152,000 after buying an additional 2,500 shares in the last quarter. 96.46% of the stock is currently owned by institutional investors and hedge funds.
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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