$114.10 Million in Sales Expected for Photronics, Inc. (PLAB) This Quarter

Analysts expect Photronics, Inc. (NASDAQ:PLAB) to post sales of $114.10 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Photronics’ earnings, with estimates ranging from $114.00 million to $114.20 million. Photronics reported sales of $109.83 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.9%. The firm is expected to issue its next quarterly earnings results on Wednesday, February 21st.

According to Zacks, analysts expect that Photronics will report full-year sales of $114.10 million for the current financial year, with estimates ranging from $483.00 million to $500.00 million. For the next financial year, analysts forecast that the firm will report sales of $570.00 million per share. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Photronics.

Photronics (NASDAQ:PLAB) last issued its earnings results on Wednesday, November 29th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. Photronics had a return on equity of 1.55% and a net margin of 2.91%. The business had revenue of $121.00 million during the quarter, compared to analysts’ expectations of $112.17 million. During the same quarter in the previous year, the business earned $0.05 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis.

A number of brokerages have recently issued reports on PLAB. Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. DA Davidson reiterated a “buy” rating and set a $13.00 target price on shares of Photronics in a report on Monday, November 27th. Finally, BidaskClub lowered Photronics from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th.

In related news, VP Richelle E. Burr sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $9.00, for a total transaction of $27,000.00. Following the transaction, the vice president now directly owns 45,109 shares of the company’s stock, valued at approximately $405,981. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richelle E. Burr sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $9.00, for a total value of $36,000.00. Following the transaction, the vice president now directly owns 41,109 shares in the company, valued at $369,981. The disclosure for this sale can be found here. Insiders have sold a total of 69,750 shares of company stock worth $648,075 over the last three months. 3.71% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PLAB. Wedge Capital Management L L P NC raised its position in shares of Photronics by 4,703.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 1,444,626 shares of the semiconductor company’s stock valued at $12,785,000 after purchasing an additional 1,414,552 shares in the last quarter. Donald Smith & CO. Inc. raised its position in shares of Photronics by 18.8% in the 2nd quarter. Donald Smith & CO. Inc. now owns 5,267,874 shares of the semiconductor company’s stock valued at $49,518,000 after purchasing an additional 835,254 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Photronics by 24.1% in the 2nd quarter. Alliancebernstein L.P. now owns 2,135,442 shares of the semiconductor company’s stock valued at $20,073,000 after purchasing an additional 414,930 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Photronics by 2,734.1% in the 2nd quarter. D.A. Davidson & CO. now owns 403,860 shares of the semiconductor company’s stock valued at $3,796,000 after purchasing an additional 389,610 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Photronics by 30.9% in the 2nd quarter. Northern Trust Corp now owns 1,645,280 shares of the semiconductor company’s stock valued at $15,466,000 after purchasing an additional 388,133 shares in the last quarter. 94.49% of the stock is currently owned by institutional investors.

Shares of Photronics (PLAB) traded down $0.15 during trading hours on Wednesday, hitting $8.40. The stock had a trading volume of 557,169 shares, compared to its average volume of 473,857. The company has a quick ratio of 5.20, a current ratio of 5.49 and a debt-to-equity ratio of 0.07. Photronics has a 1-year low of $7.55 and a 1-year high of $11.95. The stock has a market cap of $590.40, a PE ratio of 44.21, a P/E/G ratio of 2.17 and a beta of 0.55.

COPYRIGHT VIOLATION NOTICE: “$114.10 Million in Sales Expected for Photronics, Inc. (PLAB) This Quarter” was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The original version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/10/114-10-million-in-sales-expected-for-photronics-inc-plab-this-quarter.html.

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.

Get a free copy of the Zacks research report on Photronics (PLAB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Photronics (NASDAQ:PLAB)

Receive News & Ratings for Photronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Photronics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply