Photronics (PLAB) Updates Q2 Earnings Guidance

Photronics (NASDAQ:PLAB) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.04-0.09 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.09. The company issued revenue guidance of $120-128 million, compared to the consensus revenue estimate of $120.57 million.

Shares of Photronics (NASDAQ PLAB) opened at $7.80 on Wednesday. The stock has a market cap of $545.52, a P/E ratio of 39.00, a PEG ratio of 1.98 and a beta of 0.52. Photronics has a 52 week low of $7.20 and a 52 week high of $11.75. 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 (NASDAQ:PLAB) last released its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $123.40 million for the quarter, compared to the consensus estimate of $114.13 million. Photronics had a net margin of 2.91% and a return on equity of 1.55%. The business’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS. sell-side analysts anticipate that Photronics will post 0.4 earnings per share for the current fiscal year.

PLAB has been the topic of a number of research analyst reports. DA Davidson reissued a buy rating and issued a $13.00 price target on shares of Photronics in a research note on Monday, November 27th. BidaskClub downgraded shares of Photronics from a hold rating to a sell rating in a research note on Tuesday, December 12th. Zacks Investment Research downgraded shares of Photronics from a hold rating to a strong sell rating in a research note on Saturday, December 2nd. Finally, ValuEngine downgraded shares of Photronics from a hold rating to a sell rating in a research note on Friday, February 2nd.

In related news, SVP Sean T. Smith sold 12,500 shares of the company’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 transaction of $117,875.00. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Sean T. Smith sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $9.19, for a total transaction of $229,750.00. Following the sale, the senior vice president now directly owns 165,358 shares in the company, valued at $1,519,640.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,040 shares of company stock worth $452,165. 3.71% of the stock is owned by insiders.

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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 and Estimates for Photronics (NASDAQ:PLAB)

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