Several other equities research analysts also recently weighed in on the stock. Northland Securities reaffirmed a buy rating on shares of Titan Medical in a research note on Thursday, July 18th. Zacks Investment Research downgraded shares of Hallmark Financial Services from a buy rating to a hold rating in a research note on Thursday, July 18th. Finally, TheStreet downgraded shares of Zimmer Biomet from a b- rating to a c rating in a research note on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Photronics has an average rating of Hold and an average target price of $10.63.
PLAB opened at $8.99 on Friday. Photronics has a 1-year low of $7.95 and a 1-year high of $11.58. The company has a current ratio of 2.67, a quick ratio of 2.42 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $586.83 million, a P/E ratio of 15.50, a P/E/G ratio of 2.10 and a beta of 0.60. The firm has a fifty day moving average of $8.38.
Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. Photronics had a net margin of 7.30% and a return on equity of 4.10%. The firm had revenue of $131.60 million during the quarter, compared to the consensus estimate of $130.05 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. As a group, analysts forecast that Photronics will post 0.42 earnings per share for the current fiscal year.
In other news, Director Walter M. Fiederowicz sold 5,000 shares of Photronics stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $8.47, for a total transaction of $42,350.00. Following the completion of the transaction, the director now directly owns 53,500 shares in the company, valued at $453,145. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 12,700 shares of company stock valued at $110,688 over the last quarter. Corporate insiders own 3.58% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PLAB. Bessemer Group Inc. boosted its position in Photronics by 38.8% during the 2nd quarter. Bessemer Group Inc. now owns 129,600 shares of the semiconductor company’s stock valued at $1,063,000 after buying an additional 36,200 shares during the period. KAMES CAPITAL plc boosted its position in Photronics by 6.9% during the 2nd quarter. KAMES CAPITAL plc now owns 1,245,302 shares of the semiconductor company’s stock valued at $10,199,000 after buying an additional 79,927 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Photronics during the 1st quarter valued at $217,000. O Shaughnessy Asset Management LLC purchased a new stake in Photronics during the 1st quarter valued at $647,000. Finally, PNC Financial Services Group Inc. boosted its position in Photronics by 1,082.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 280,313 shares of the semiconductor company’s stock valued at $2,648,000 after buying an additional 256,600 shares during the period. Hedge funds and other institutional investors own 97.27% of the company’s stock.
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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