Photronics (NASDAQ:PLAB) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. DA Davidson restated a “buy” rating and issued a $13.00 target price on shares of Photronics in a research report on Monday, November 27th.
Photronics (NASDAQ PLAB) traded up $0.10 during midday trading on Tuesday, hitting $8.70. The stock had a trading volume of 1,039,734 shares, compared to its average volume of 635,237. The stock has a market capitalization of $599.77, a P/E ratio of 43.50, a PEG ratio of 2.17 and a beta of 0.53. Photronics has a 1-year low of $7.55 and a 1-year high of $12.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.20 and a current ratio of 5.49.
In related news, VP Christopher J. Progler sold 4,000 shares of Photronics stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $9.55, for a total transaction of $38,200.00. Following the transaction, the vice president now owns 78,900 shares in the company, valued at $753,495. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Richelle E. Burr sold 3,000 shares of Photronics stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $9.00, for a total value of $27,000.00. Following the transaction, the vice president now owns 45,109 shares in the company, valued at approximately $405,981. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,000 shares of company stock worth $834,288. Company insiders own 3.71% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP lifted its position in Photronics by 146.7% during the third quarter. GSA Capital Partners LLP now owns 70,606 shares of the semiconductor company’s stock worth $625,000 after buying an additional 41,986 shares in the last quarter. Wolverine Trading LLC purchased a new position in Photronics during the third quarter worth approximately $117,000. California Public Employees Retirement System lifted its position in Photronics by 3.3% during the third quarter. California Public Employees Retirement System now owns 744,108 shares of the semiconductor company’s stock worth $6,585,000 after buying an additional 23,908 shares in the last quarter. Group One Trading L.P. raised its position in Photronics by 90.8% in the third quarter. Group One Trading L.P. now owns 11,977 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 5,700 shares during the period. Finally, Highbridge Capital Management LLC purchased a new stake in Photronics in the third quarter valued at $154,000. Hedge funds and other institutional investors own 94.71% of the company’s stock.
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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