Shares of Photronics Inc. (NASDAQ:PLAB) saw strong trading volume on Wednesday . 373,423 shares traded hands during mid-day trading, an increase of 10% from the previous session’s volume of 340,838 shares.The stock last traded at $9.48 and had previously closed at $9.44.

A number of analysts have issued reports on the stock. Zacks Investment Research raised shares of Photronics from a “sell” rating to a “hold” rating in a report on Friday, July 8th. Needham & Company LLC reissued a “buy” rating and issued a $12.00 price objective (down previously from $13.00) on shares of Photronics in a report on Thursday, May 19th.

The stock has a market capitalization of $647.32 million and a P/E ratio of 11.22. The company’s 50-day moving average is $9.20 and its 200 day moving average is $10.23.

Photronics (NASDAQ:PLAB) last announced its earnings results on Wednesday, May 18th. The company reported $0.13 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. During the same quarter in the prior year, the company earned $0.12 EPS. The firm earned $122.90 million during the quarter, compared to analysts’ expectations of $125.54 million. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities analysts predict that Photronics Inc. will post $0.60 earnings per share for the current fiscal year.

In related news, Director Mitchell G. Tyson sold 2,400 shares of the firm’s stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $11.00, for a total transaction of $26,400.00. Following the completion of the sale, the director now owns 70,979 shares in the company, valued at $780,769. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

A number of hedge funds recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in 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 increased its stake in 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 during the period. State Board of Administration of Florida Retirement System increased its stake in 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 during the period. Dimensional Fund Advisors LP increased its stake in 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 during the period. Finally, Airain ltd increased its stake in Photronics by 140.7% in the fourth quarter. Airain ltd now owns 80,650 shares of the company’s stock worth $1,004,000 after buying an additional 47,150 shares during the period.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.