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