Photronics Trading 5.3% Higher on Analyst Upgrade (PLAB)
Photronics (NASDAQ:PLAB) shares traded up 5.3% on Thursday after DA Davidson raised their price target on the stock from $10.00 to $12.00, American Banking & Market News reports. DA Davidson currently has a buy rating on the stock. Photronics traded as high as $9.02 and last traded at $9.00, with a volume of 322,862 shares trading hands. The stock had previously closed at $8.55.
Separately, analysts at Needham & Company LLC upgraded shares of Photronics from a “hold” rating to a “buy” rating in a research note on Thursday. They now have a $11.00 price target on the stock.
The stock’s 50-day moving average is $8.37 and its 200-day moving average is $8.54. The company has a market cap of $556.4 million and a price-to-earnings ratio of 19.17.
Photronics (NASDAQ:PLAB) last released its earnings data on Tuesday, August 19th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.05 by $0.02. The company had revenue of $124.90 million for the quarter, compared to the consensus estimate of $122.53 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 13.9% on a year-over-year basis. On average, analysts predict that Photronics will post $0.19 earnings per share for the current fiscal year.
Photronics, Inc (NASDAQ:PLAB)is a manufacturers of photomasks, which are precision photographic quartz plates containing microscopic images of electronic circuits.
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