Northland Securities initiated coverage on shares of Photronics (NASDAQ:PLAB) in a report published on Thursday, Briefing.com Automated Import reports. The brokerage issued an outperform rating and a $12.00 target price on the semiconductor company’s stock.
PLAB has been the subject of a number of other research reports. BidaskClub upgraded shares of Zai Lab from a buy rating to a strong-buy rating in a report on Friday, June 28th. Zacks Investment Research downgraded shares of Hallmark Financial Services from a buy rating to a hold rating in a report on Thursday. Finally, TheStreet downgraded shares of Zimmer Biomet from a b- rating to a c rating in a report on Friday, June 7th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $10.63.
Shares of Photronics stock opened at $8.75 on Thursday. The stock has a market cap of $586.83 million, a price-to-earnings ratio of 15.09, a PEG ratio of 2.10 and a beta of 0.60. Photronics has a twelve month low of $7.95 and a twelve month high of $11.58. The company has a 50-day moving average of $8.34. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.67 and a quick ratio of 2.42.
Photronics (NASDAQ:PLAB) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.06. The firm had revenue of $131.60 million for the quarter, compared to analyst estimates of $130.05 million. Photronics had a net margin of 7.30% and a return on equity of 4.10%. Photronics’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $0.15 EPS. On average, equities analysts anticipate that Photronics will post 0.42 EPS for the current fiscal year.
In other Photronics news, Director Walter M. Fiederowicz sold 5,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $8.47, for a total value of $42,350.00. Following the completion of the sale, the director now owns 53,500 shares in the company, valued at approximately $453,145. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 12,700 shares of company stock valued at $110,688. 3.58% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in PLAB. Investors Research Corp acquired a new stake in Photronics in the 1st quarter valued at about $68,000. Econ Financial Services Corp acquired a new stake in shares of Photronics during the 1st quarter worth approximately $102,000. Voit & Company LLC acquired a new stake in shares of Photronics during the 1st quarter worth approximately $107,000. BNP Paribas Arbitrage SA increased its holdings in shares of Photronics by 128.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 13,545 shares of the semiconductor company’s stock worth $128,000 after buying an additional 7,604 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Photronics by 253.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,352 shares of the semiconductor company’s stock worth $136,000 after buying an additional 10,292 shares during the last quarter. Institutional investors own 97.27% of the company’s stock.
Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz or glass plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.
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