Photronics (NASDAQ:PLAB) Posts Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Photronics (NASDAQ:PLAB) issued its quarterly earnings results on Thursday. The semiconductor company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.11), FiscalAI reports. The business had revenue of $209.94 million for the quarter, compared to the consensus estimate of $216.47 million. Photronics had a return on equity of 7.88% and a net margin of 15.83%.

Photronics Stock Performance

Photronics stock opened at $53.51 on Thursday. The stock has a 50-day simple moving average of $46.28 and a 200 day simple moving average of $37.11. Photronics has a 52 week low of $16.59 and a 52 week high of $56.00. The stock has a market capitalization of $3.16 billion, a P/E ratio of 22.77 and a beta of 1.51.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PLAB shares. Craig Hallum restated a “buy” rating and issued a $48.00 price objective on shares of Photronics in a report on Tuesday, March 3rd. Zacks Research cut Photronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Lake Street Capital restated a “buy” rating and issued a $55.00 price objective on shares of Photronics in a report on Friday, May 1st. Wall Street Zen upgraded Photronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 14th. Finally, Weiss Ratings upgraded Photronics from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Photronics presently has a consensus rating of “Moderate Buy” and an average price target of $49.33.

Insider Activity

In other Photronics news, Director Constantine S. Macricostas sold 50,000 shares of Photronics stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $45.35, for a total transaction of $2,267,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kang Jyh Lee sold 20,000 shares of Photronics stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $45.92, for a total transaction of $918,400.00. Following the transaction, the director directly owned 355,850 shares of the company’s stock, valued at approximately $16,340,632. This trade represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 346,144 shares of company stock valued at $15,061,759. 3.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Photronics

A number of institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of Photronics by 0.3% during the fourth quarter. Russell Investments Group Ltd. now owns 105,784 shares of the semiconductor company’s stock worth $3,385,000 after acquiring an additional 306 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Photronics by 16.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,624 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 365 shares during the period. Franklin Resources Inc. boosted its position in shares of Photronics by 0.9% in the third quarter. Franklin Resources Inc. now owns 60,900 shares of the semiconductor company’s stock valued at $1,398,000 after acquiring an additional 570 shares during the period. Quantinno Capital Management LP raised its stake in Photronics by 6.8% in the 2nd quarter. Quantinno Capital Management LP now owns 14,847 shares of the semiconductor company’s stock worth $280,000 after purchasing an additional 945 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in Photronics by 243.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,499 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 1,063 shares in the last quarter. Institutional investors own 88.38% of the company’s stock.

Photronics Company Profile

Photronics, Inc is a leading global supplier of photomask products used in the manufacture of integrated circuits, flat panel displays, microelectromechanical systems (MEMS), and advanced packaging applications. Photomasks, also known as reticles, are critical templates that carry the precise circuit patterns required for semiconductor lithography processes. The company offers a comprehensive range of mask solutions, including binary masks, attenuated phase-shift masks, reticles for micro-optics, and specialized products for high‐resolution applications.

Founded in 1969 and headquartered in Brookfield, Connecticut, Photronics has grown through organic expansion and strategic investments in high‐end lithography technology.