Photronics Inc. (PLAB) Trading 1.2% Higher
Photronics Inc. (NASDAQ:PLAB)’s share price traded up 1.2% during trading on Tuesday . The company traded as high as $9.42 and last traded at $9.40, with a volume of 142,167 shares. The stock had previously closed at $9.29.
A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Photronics from a “sell” rating to a “hold” rating in a report on Friday, July 8th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 target price (down from $13.00) on shares of Photronics in a report on Thursday, May 19th.
The company has a market cap of $646.64 million and a PE ratio of 11.20. The stock’s 50-day moving average is $9.21 and its 200-day moving average is $10.23.
Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Wednesday, May 18th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. During the same quarter in the prior year, the company posted $0.12 earnings per share. The business had revenue of $122.90 million for the quarter, compared to analysts’ expectations of $125.54 million. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. Analysts forecast that Photronics Inc. will post $0.60 EPS for the current year.
In other news, Director Mitchell G. Tyson sold 2,400 shares of the stock in a transaction on Monday, April 25th. The stock was sold at an average price of $11.00, for a total transaction of $26,400.00. Following the completion of the transaction, the director now directly owns 70,979 shares in the company, valued at approximately $780,769. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
A number of institutional investors have recently made changes to their positions in PLAB. 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 worth $1,198,000 after buying an additional 2,980 shares during the period. State Board of Administration of Florida Retirement System boosted its position 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 during the period. 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 worth $1,533,000 after buying an additional 2,168 shares during the period. 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 worth $8,921,000 after buying an additional 603,244 shares during the period. Finally, 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 worth $70,572,000 after buying an additional 21,769 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.
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