Photronics Inc. (PLAB) Shares Up 1.3%
Shares of Photronics Inc. (NASDAQ:PLAB) shot up 1.3% during trading on Tuesday . The stock traded as high as $9.71 and last traded at $9.70, with a volume of 194,348 shares changing hands. The stock had previously closed at $9.58.
Several brokerages have recently issued reports on PLAB. Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a research report on Friday, April 8th. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price target (down from $13.00) on shares of Photronics in a research report on Thursday, May 19th.
The stock has a market cap of $662.31 million and a P/E ratio of 11.48. The stock’s 50-day moving average is $9.22 and its 200 day moving average is $10.06.
Photronics (NASDAQ:PLAB) last released its 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 period last year, the business earned $0.12 earnings per share. The firm had revenue of $122.90 million for the quarter, compared to analyst estimates of $125.54 million. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities analysts predict that Photronics Inc. will post $0.60 earnings per share for the current year.
A number of large investors recently added to or reduced their stakes in PLAB. Morgan Stanley increased its stake in 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 last quarter. Airain ltd increased its stake 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. Dimensional Fund Advisors LP increased its stake in 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 last quarter. State Board of Administration of Florida Retirement System increased its stake in 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 last quarter. Finally, Rhumbline Advisers increased its stake in 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 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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