Photronics Inc. (PLAB) Trading 1.2% Higher
Photronics Inc. (NASDAQ:PLAB) traded up 1.2% during mid-day trading on Tuesday . The stock traded as high as $9.42 and last traded at $9.40, with a volume of 142,167 shares trading hands. The stock had previously closed at $9.29.
Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a research note on Friday, April 8th. Needham & Company LLC restated a “buy” rating and set a $13.00 target price on shares of Photronics in a research note on Tuesday, March 22nd.
The firm has a 50 day moving average of $9.20 and a 200-day moving average of $10.24. The firm has a market capitalization of $644.25 million and a PE ratio of 11.163.
Photronics (NASDAQ:PLAB) last issued its earnings results on Wednesday, May 18th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The firm earned $122.90 million during the quarter, compared to the consensus estimate of $125.54 million. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.12 EPS. On average, equities analysts anticipate that Photronics Inc. will post $0.60 EPS for the current fiscal year.
In other news, Director Mitchell G. Tyson sold 2,400 shares of the company’s stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $11.00, for a total value of $26,400.00. Following the transaction, the director now owns 70,979 shares in the company, valued at $780,769. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of hedge funds and institutional investors recently modified their holdings of PLAB. California State Teachers Retirement System increased its position in shares of Photronics by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 123,121 shares of the company’s stock worth $1,533,000 after buying an additional 2,168 shares during the period. Rhumbline Advisers boosted its stake in shares of Photronics by 3.2% in the fourth quarter. Rhumbline Advisers now owns 96,194 shares of the company’s stock worth $1,198,000 after buying an additional 2,980 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Photronics by 23.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 106,565 shares of the company’s stock worth $1,327,000 after buying an additional 20,068 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Photronics by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,668,379 shares of the company’s stock worth $70,572,000 after buying an additional 21,769 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Photronics by 242.4% in the fourth quarter. Wells Fargo & Company MN now owns 92,658 shares of the company’s stock worth $1,154,000 after buying an additional 65,597 shares in the last quarter.
Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. The Company supports customers across the full spectrum of integrated circuit (IC) production and flat panel display (FPD) technologies by manufacturing photomasks using electron beam or optical (laser-based) systems.
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