Photronics, Inc. (NASDAQ:PLAB – Get Rating)’s stock price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $17.21, but opened at $18.92. Photronics shares last traded at $19.43, with a volume of 343,889 shares.
The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.10. The company had revenue of $229.30 million for the quarter, compared to analyst estimates of $211.00 million. Photronics had a return on equity of 11.09% and a net margin of 14.04%. Photronics’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS.
Analysts Set New Price Targets
Several analysts have recently issued reports on the company. DA Davidson reissued a “buy” rating on shares of Photronics in a report on Tuesday, April 11th. Northland Securities raised their price objective on Photronics from $18.00 to $21.00 in a research note on Thursday. Finally, StockNews.com assumed coverage on Photronics in a research note on Thursday, May 18th. They issued a “buy” rating on the stock.
Institutional Trading of Photronics
Photronics Stock Up 10.3 %
The company has a debt-to-equity ratio of 0.02, a current ratio of 3.89 and a quick ratio of 3.25. The company has a market capitalization of $1.27 billion, a P/E ratio of 10.18 and a beta of 1.18. The stock has a 50-day moving average price of $15.81 and a 200-day moving average price of $17.16.
Photronics, Inc engages in the provision of photomasks. It manufactures semiconductors and flat-panel displays and is used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during the fabrication of integrated circuits, a variety of FPDs and other types of electrical and optical components.
- Get a free copy of the StockNews.com research report on Photronics (PLAB)
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