Photronics Inc. (PLAB) Sees Strong Trading Volume
Shares of Photronics Inc. (NASDAQ:PLAB) saw strong trading volume on Wednesday . 373,423 shares were traded 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 recently commented on the company. Zacks Investment Research raised Photronics from a “sell” rating to a “hold” rating in a research note on Friday, April 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Photronics in a research report on Sunday, April 10th.
The company has a market cap of $647.32 million and a P/E ratio of 11.22. The stock has a 50 day moving average price of $9.21 and a 200 day moving average price of $10.23.
Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Wednesday, May 18th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. The firm earned $122.90 million during the quarter, compared to analyst estimates of $125.54 million. During the same period in the prior year, the business earned $0.12 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities research 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 firm’s stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $11.00, for a total value of $26,400.00. Following the completion of the transaction, the director now owns 70,979 shares in the company, valued at approximately $780,769. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several institutional investors recently made changes to their positions in PLAB. Airain ltd boosted 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 last quarter. Dimensional Fund Advisors LP boosted its position 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 valued at $70,572,000 after buying an additional 21,769 shares during the last quarter. Morgan Stanley boosted its position in shares of Photronics by 532.0% in the fourth quarter. Morgan Stanley now owns 716,646 shares of the company’s stock valued at $8,921,000 after buying an additional 603,244 shares during the last quarter. Rhumbline Advisers boosted its position in shares of 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. Finally, California State Teachers Retirement System boosted 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 valued at $1,533,000 after buying an additional 2,168 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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