Photronics (PLAB) Downgraded by BidaskClub

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.

Photronics (NASDAQ:PLAB) last released its earnings results on Wednesday, November 29th. The semiconductor company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The business had revenue of $121.00 million for the quarter, compared to the consensus estimate of $112.17 million. Photronics had a return on equity of 1.55% and a net margin of 2.91%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. research analysts forecast that Photronics will post 0.4 EPS for the current fiscal year.

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.

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About Photronics

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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