Photronics, Inc. (NASDAQ:PLAB) Given Consensus Recommendation of “Hold” by Brokerages
Photronics, Inc. (NASDAQ:PLAB) has received an average rating of “Hold” from the eight ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $12.83.
A number of analysts have commented on PLAB shares. Zacks Investment Research upgraded shares of Photronics from a “sell” rating to a “hold” rating in a research note on Tuesday, April 18th. ValuEngine upgraded shares of Photronics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded shares of Photronics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th.
Photronics (NASDAQ:PLAB) opened at 10.10 on Friday. The stock’s 50 day moving average is $9.91 and its 200 day moving average is $10.72. Photronics has a 12-month low of $8.20 and a 12-month high of $12.10. The company has a market cap of $695.61 million, a P/E ratio of 40.73 and a beta of 0.47.
Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Wednesday, May 17th. The semiconductor company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $108.30 million during the quarter, compared to analyst estimates of $111.16 million. Photronics had a net margin of 3.81% and a return on equity of 1.84%. The business’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 EPS. On average, equities analysts forecast that Photronics will post $0.28 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of PLAB. Norges Bank bought a new stake in Photronics during the fourth quarter worth about $8,403,000. Donald Smith & CO. Inc. raised its position in Photronics by 8.7% in the first quarter. Donald Smith & CO. Inc. now owns 4,432,620 shares of the semiconductor company’s stock worth $47,429,000 after buying an additional 354,031 shares in the last quarter. Piermont Capital Management Inc. acquired a new position in Photronics during the first quarter worth approximately $2,175,000. Alliancebernstein L.P. raised its position in Photronics by 11.8% in the first quarter. Alliancebernstein L.P. now owns 1,720,512 shares of the semiconductor company’s stock worth $18,409,000 after buying an additional 181,550 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new position in Photronics during the first quarter worth approximately $1,735,000. Institutional investors own 97.79% of the company’s stock.
Photronics Company Profile
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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