Photronics Inc. (PLAB) Sees Large Volume Increase
Photronics Inc. (NASDAQ:PLAB) saw an uptick in trading volume on Friday . 449,893 shares traded hands during trading, an increase of 24% from the previous session’s volume of 363,726 shares.The stock last traded at $9.00 and had previously closed at $9.03.
Several brokerages have recently commented on PLAB. Zacks Investment Research lowered Photronics from a “hold” rating to a “sell” rating in a research note on Saturday. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 target price (down previously from $13.00) on shares of Photronics in a research note on Thursday, May 19th.
The stock’s 50-day moving average is $9.46 and its 200-day moving average is $9.90. The company has a market cap of $614.61 million and a P/E ratio of 10.65.
Photronics (NASDAQ:PLAB) last issued its earnings results on Thursday, August 18th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The business earned $123.20 million during the quarter, compared to the consensus estimate of $123.54 million. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 EPS. Equities research analysts expect that Photronics Inc. will post $0.55 EPS for the current fiscal year.
Other institutional investors have made changes to their positions in the company. Airain ltd raised its position in shares of Photronics by 140.7% in the fourth quarter. Airain ltd now owns 80,650 shares of the company’s stock valued at $1,004,000 after buying an additional 47,150 shares during the period. Rhumbline Advisers raised its position in Photronics by 3.2% in the fourth quarter. Rhumbline Advisers now owns 96,194 shares of the company’s stock valued at $1,198,000 after buying an additional 2,980 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Photronics by 361.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 135,100 shares of the company’s stock valued at $1,682,000 after buying an additional 105,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Photronics by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,668,379 shares of the company’s stock valued at $70,572,000 after buying an additional 21,769 shares during 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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