Photronics, Inc. (NASDAQ:PLAB) Given Average Rating of “Hold” by Brokerages
Shares of Photronics, Inc. (NASDAQ:PLAB) have earned an average recommendation of “Hold” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $13.50.
A number of brokerages have issued reports on PLAB. Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a research report on Thursday, April 6th. ValuEngine upgraded Photronics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd.
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Shares of Photronics (PLAB) opened at 9.40 on Monday. The firm has a 50 day moving average price of $10.21 and a 200 day moving average price of $10.92. Photronics has a 12-month low of $8.20 and a 12-month high of $12.10. The stock has a market cap of $647.40 million, a PE ratio of 37.90 and a beta of 0.47.
Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, May 17th. The semiconductor company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The business had revenue of $108.30 million during the quarter, compared to analysts’ expectations of $111.16 million. Photronics had a net margin of 3.81% and a return on equity of 1.84%. Photronics’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 earnings per share. On average, equities analysts expect that Photronics will post $0.28 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new position in Photronics during the first quarter worth approximately $478,000. Teachers Advisors LLC boosted its position in Photronics by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 106,153 shares of the semiconductor company’s stock worth $1,200,000 after buying an additional 2,560 shares in the last quarter. Highbridge Capital Management LLC boosted its position in Photronics by 66.8% in the fourth quarter. Highbridge Capital Management LLC now owns 25,739 shares of the semiconductor company’s stock worth $291,000 after buying an additional 10,311 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Photronics by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 1,803,629 shares of the semiconductor company’s stock worth $19,300,000 after buying an additional 45,821 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. boosted its position in Photronics by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 61,900 shares of the semiconductor company’s stock worth $662,000 after buying an additional 1,700 shares in the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.
Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. As of October 30, 2016, the Company operated principally from nine manufacturing facilities: two located in Europe, three in Taiwan, one in Korea and three in the United States.
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