Photronics Inc. (PLAB) Sees Strong Trading Volume
Photronics Inc. (NASDAQ:PLAB) saw strong trading volume on Tuesday . 680,280 shares were traded during trading, an increase of 97% from the previous session’s volume of 345,899 shares.The stock last traded at $9.75 and had previously closed at $9.39.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Photronics from a “sell” rating to a “hold” rating in a report on Saturday. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective (down from $13.00) on shares of Photronics in a report on Thursday, May 19th.
The firm has a market capitalization of $664.36 million and a PE ratio of 11.51. The stock has a 50 day moving average price of $9.19 and a 200-day moving average price of $10.14.
Photronics (NASDAQ:PLAB) last released its earnings results on Wednesday, May 18th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The firm had revenue of $122.90 million for the quarter, compared to analyst estimates of $125.54 million. During the same period in the previous year, the firm earned $0.12 earnings per share. Photronics’s revenue was down 3.5% on a year-over-year basis. On average, analysts expect that Photronics Inc. will post $0.60 earnings per share for the current year.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in the company. Airain ltd raised its position 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 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 worth $1,198,000 after buying an additional 2,980 shares in the last quarter. 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 in the last quarter. 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 in the last quarter. Finally, 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 in 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.
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.