Photronics (NASDAQ:PLAB) Shares Gap Up to $15.04

Photronics, Inc. (NASDAQ:PLABGet Rating) shares gapped up before the market opened on Wednesday . The stock had previously closed at $15.04, but opened at $16.32. Photronics shares last traded at $15.74, with a volume of 24,303 shares traded.

Several research analysts have recently weighed in on the company. Stifel Nicolaus upgraded Photronics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $19.00 to $21.00 in a report on Monday, April 11th. StockNews.com assumed coverage on shares of Photronics in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company. Finally, Zacks Investment Research cut Photronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 27th.

The business’s 50 day moving average price is $15.96 and its 200-day moving average price is $16.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.80 and a current ratio of 3.13. The firm has a market capitalization of $1.02 billion, a PE ratio of 14.03 and a beta of 0.98.

Photronics (NASDAQ:PLABGet Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The semiconductor company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.31 by $0.07. The business had revenue of $189.80 million during the quarter, compared to analyst estimates of $183.10 million. Photronics had a net margin of 10.05% and a return on equity of 6.66%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. As a group, analysts anticipate that Photronics, Inc. will post 1.49 earnings per share for the current year.

In other Photronics news, EVP Christopher J. Progler sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $17.96, for a total value of $179,600.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mitchell G. Tyson sold 2,000 shares of Photronics stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $15.00, for a total transaction of $30,000.00. Following the sale, the director now directly owns 72,379 shares of the company’s stock, valued at $1,085,685. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,481 shares of company stock valued at $470,276. Insiders own 3.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Photronics by 76.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,320 shares of the semiconductor company’s stock valued at $195,000 after buying an additional 4,487 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Photronics by 12.9% in the 4th quarter. First Trust Advisors LP now owns 100,311 shares of the semiconductor company’s stock valued at $1,891,000 after purchasing an additional 11,485 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Photronics by 0.5% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 147,920 shares of the semiconductor company’s stock valued at $2,788,000 after purchasing an additional 670 shares during the period. Teacher Retirement System of Texas purchased a new position in Photronics during the 3rd quarter worth approximately $139,000. Finally, Yousif Capital Management LLC acquired a new position in Photronics during the fourth quarter worth approximately $1,050,000. Institutional investors own 88.49% of the company’s stock.

About Photronics (NASDAQ:PLAB)

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, Korea, Europe, China, and internationally. The company offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, FDP substrates, and other types of electrical and optical components.

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