Photronics Rating Increased to Buy at Jefferson Research (PLAB)
Photronics (NASDAQ:PLAB) was upgraded by investment analysts at Jefferson Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, AnalystRatingsNetwork.com reports.
Shares of Photronics (NASDAQ:PLAB) traded up 0.35% on Friday, hitting $8.70. The stock had a trading volume of 135,918 shares. Photronics has a 1-year low of $5.75 and a 1-year high of $9.75. The stock has a 50-day moving average of $8.68 and a 200-day moving average of $8.15. The company has a market cap of $531.2 million and a P/E ratio of 29.90.
Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Tuesday, December 10th. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.08 by $0.01. The company had revenue of $106.00 million for the quarter, compared to the consensus estimate of $106.05 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts expect that Photronics will post $0.58 EPS for the current fiscal year.
In other Photronics news, Director Walter Fiederowicz sold 32,000 shares of Photronics stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $8.93, for a total transaction of $285,760.00. Following the sale, the director now directly owns 12,000 shares in the company, valued at approximately $107,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at UBS AG raised their price target on shares of Photronics from $8.00 to $11.00 in a research note to investors on Friday, December 13th. They now have a “buy” rating on the stock. Analysts at Needham & Company downgraded shares of Photronics from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, November 13th.
Photronics, Inc (NASDAQ:PLAB), is a manufacturers of photomasks, which are precision photographic quartz plates containing microscopic images of electronic circuits.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.