Photronics (PLAB) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Photronics (NASDAQ:PLAB) released its earnings results on Wednesday. The semiconductor company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03, RTT News reports. Photronics had a return on equity of 1.55% and a net margin of 2.91%. The business had revenue of $123.40 million during the quarter, compared to analysts’ expectations of $114.13 million. During the same quarter last year, the firm posted $0.03 earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis. Photronics updated its Q2 guidance to $0.04-0.09 EPS.

Shares of Photronics (NASDAQ:PLAB) opened at $7.80 on Wednesday. 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 one year low of $7.20 and a one year high of $11.75. The company has a market capitalization of $545.52, a P/E ratio of 39.00, a price-to-earnings-growth ratio of 1.98 and a beta of 0.52.

In other Photronics news, VP Christopher J. Progler sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $9.55, for a total value of $38,200.00. Following the completion of the sale, the vice president now owns 78,900 shares of the company’s stock, valued at $753,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Sean T. Smith sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $9.43, for a total value of $117,875.00. Following the completion of the sale, the senior vice president now directly owns 152,858 shares of the company’s stock, valued at approximately $1,441,450.94. The disclosure for this sale can be found here. Insiders sold 49,040 shares of company stock valued at $452,165 in the last three months. Insiders own 3.71% of the company’s stock.

Several large investors have recently made changes to their positions in PLAB. BlackRock Inc. boosted its position in shares of Photronics by 99.7% during the fourth quarter. BlackRock Inc. now owns 8,932,962 shares of the semiconductor company’s stock valued at $76,153,000 after buying an additional 4,458,990 shares during the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Photronics by 4,703.6% during the third 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 buying an additional 1,414,552 shares during the last quarter. Cortina Asset Management LLC purchased a new position in shares of Photronics during the fourth quarter valued at approximately $3,964,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Photronics by 106.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 842,037 shares of the semiconductor company’s stock valued at $7,178,000 after buying an additional 434,174 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Photronics by 30.9% during the second quarter. Northern Trust Corp now owns 1,645,280 shares of the semiconductor company’s stock valued at $15,466,000 after buying an additional 388,133 shares during the last quarter. 94.39% of the stock is currently owned by institutional investors.

Several research firms recently commented on PLAB. BidaskClub cut Photronics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 30th. DA Davidson reaffirmed a “buy” rating and set a $13.00 target price on shares of Photronics in a research note on Monday, November 27th. Zacks Investment Research raised Photronics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, ValuEngine cut Photronics from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd.

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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.

Earnings History for Photronics (NASDAQ:PLAB)

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