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

Brokerages 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. The lowest sales estimate is $114.00 million and the highest is $114.20 million. Photronics posted sales of $109.83 million in the same quarter last year, which suggests a positive year over year growth rate of 3.9%. The firm is expected to issue its next quarterly earnings results before the market opens on Wednesday, February 14th.

On average, analysts expect that Photronics will report full year sales of $114.10 million for the current fiscal year, with estimates ranging from $483.00 million to $500.00 million. For the next year, analysts anticipate that the company will report sales of $570.00 million per share. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Photronics.

Photronics (NASDAQ:PLAB) last released its earnings results on Wednesday, November 29th. The semiconductor company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $121.00 million during 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 firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 earnings per share.

A number of equities research analysts have recently weighed in on the company. BidaskClub downgraded Photronics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 30th. DA Davidson restated a “buy” rating and set a $13.00 target price on shares of Photronics in a research report on Monday, November 27th. Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, ValuEngine downgraded Photronics from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd.

In related news, VP Christopher J. Progler sold 4,000 shares of Photronics stock in a transaction 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 completion of the sale, the vice president now directly owns 78,900 shares of the company’s stock, valued at $753,495. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Sean T. Smith sold 12,500 shares of Photronics stock in a transaction on Monday, December 4th. The stock was sold at an average price of $9.43, for a total value of $117,875.00. Following the sale, the senior vice president now directly owns 152,858 shares of the company’s stock, valued at $1,441,450.94. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,040 shares of company stock valued at $452,165. 3.71% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Cortina Asset Management LLC acquired a new position in Photronics in the fourth quarter valued at about $3,964,000. Spark Investment Management LLC acquired a new position in Photronics in the fourth quarter valued at about $762,000. Pacific Ridge Capital Partners LLC grew its stake in Photronics by 31.6% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 168,270 shares of the semiconductor company’s stock valued at $1,435,000 after acquiring an additional 40,410 shares during the period. OppenheimerFunds Inc. acquired a new position in Photronics in the fourth quarter valued at about $300,000. Finally, State of Tennessee Treasury Department acquired a new position in Photronics in the fourth quarter valued at about $467,000. 94.39% of the stock is owned by institutional investors and hedge funds.

Shares of Photronics (NASDAQ PLAB) opened at $7.90 on Tuesday. The firm has a market capitalization of $517.89, a price-to-earnings ratio of 37.50, a PEG ratio of 1.88 and a beta of 0.52. Photronics has a 52-week low of $7.20 and a 52-week high of $11.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.20 and a current ratio of 5.49.

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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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Earnings History and Estimates for Photronics (NASDAQ:PLAB)

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