Photronics Inc. (PLAB) Sees Unusually-High Trading Volume
Shares of Photronics Inc. (NASDAQ:PLAB) saw unusually-high trading volume on Friday . Approximately 449,893 shares changed hands during trading, an increase of 24% from the previous session’s volume of 363,726 shares.The stock last traded at $9.00 and had previously closed at $9.03.
PLAB has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and set a $12.00 price target (down from $13.00) on shares of Photronics in a report on Thursday, May 19th. Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a report on Friday, April 22nd.
The company’s 50 day moving average is $9.46 and its 200 day moving average is $9.90. The company has a market cap of $614.61 million and a price-to-earnings ratio of 10.65.
Photronics (NASDAQ:PLAB) last issued its earnings results on Thursday, August 18th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by $0.02. During the same period in the prior year, the company posted $0.17 EPS. The business earned $123.20 million during the quarter, compared to analyst estimates of $123.54 million. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, equities analysts predict that Photronics Inc. will post $0.56 EPS for the current fiscal year.
A number of hedge funds and institutional investors recently modified their holdings of the company. Dimensional Fund Advisors LP increased 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Photronics by 361.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 135,100 shares of the company’s stock valued at $1,682,000 after buying an additional 105,800 shares in the last quarter. Rhumbline Advisers increased 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 in the last quarter. Finally, Airain ltd increased 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 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.
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