SunTrust Banks Inc. Analysts Give Photronics Inc. (PLAB) a $12.00 Price Target
PLAB has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Photronics from a sell rating to a hold rating in a research note on Friday, July 8th. DA Davidson reiterated a buy rating and set a $15.00 price objective on shares of Photronics in a research note on Monday, August 22nd.
Photronics (NASDAQ:PLAB) opened at 10.67 on Tuesday. The firm has a market capitalization of $727.54 million, a P/E ratio of 13.09 and a beta of 0.85. The firm has a 50-day moving average price of $9.93 and a 200 day moving average price of $9.83. Photronics has a one year low of $8.56 and a one year high of $13.05.
Photronics (NASDAQ:PLAB) last posted its quarterly earnings data on Thursday, August 18th. The company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.02. Photronics had a net margin of 11.50% and a return on equity of 6.07%. The company had revenue of $123.20 million for the quarter, compared to analyst estimates of $123.54 million. During the same quarter in the prior year, the business earned $0.17 EPS. Photronics’s revenue was down 6.5% compared to the same quarter last year. Equities research analysts anticipate that Photronics will post $0.55 earnings per share for the current year.
In related news, Director Joseph A. Fiorita, Jr. sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $10.00, for a total value of $120,000.00. Following the completion of the transaction, the director now owns 161,100 shares of the company’s stock, valued at approximately $1,611,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter M. Fiederowicz sold 21,250 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $9.95, for a total transaction of $211,437.50. Following the completion of the transaction, the director now directly owns 42,250 shares of the company’s stock, valued at approximately $420,387.50. The disclosure for this sale can be found here. Corporate insiders own 4.12% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. raised its position in Photronics by 1,676.1% in the first quarter. Prudential Financial Inc. now owns 211,548 shares of the company’s stock worth $2,202,000 after buying an additional 199,637 shares in the last quarter. Algert Global LLC raised its position in Photronics by 108.0% in the first quarter. Algert Global LLC now owns 80,036 shares of the company’s stock worth $833,000 after buying an additional 41,566 shares in the last quarter. Franklin Resources Inc. raised its position in Photronics by 39.9% in the first quarter. Franklin Resources Inc. now owns 5,172,100 shares of the company’s stock worth $53,842,000 after buying an additional 1,474,100 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Photronics by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,697,653 shares of the company’s stock worth $17,673,000 after buying an additional 6,230 shares in the last quarter. Finally, Acrospire Investment Management LLC purchased a new position in Photronics during the first quarter worth approximately $116,000. 98.92% of the stock is owned by hedge funds and other institutional investors.
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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