Photronics (PLAB) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Photronics (NASDAQ:PLAB) issued its quarterly earnings data on Tuesday. The semiconductor company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.08, Bloomberg Earnings reports. The business had revenue of $130.78 million during the quarter, compared to the consensus estimate of $124.17 million. Photronics had a net margin of 3.68% and a return on equity of 1.96%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 EPS. Photronics updated its Q3 guidance to $0.12-0.18 EPS.

PLAB stock opened at $8.45 on Tuesday. Photronics has a 12 month low of $7.20 and a 12 month high of $10.80. The firm has a market capitalization of $555.54 million, a P/E ratio of 44.47, a price-to-earnings-growth ratio of 2.09 and a beta of 0.51. The company has a quick ratio of 5.28, a current ratio of 5.59 and a debt-to-equity ratio of 0.06.

In related news, VP Christopher J. Progler sold 3,750 shares of the company’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $8.10, for a total value of $30,375.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter M. Fiederowicz sold 6,000 shares of the company’s stock in a transaction on Wednesday, April 11th. The shares were sold at an average price of $8.27, for a total transaction of $49,620.00. Following the completion of the sale, the director now owns 39,000 shares of the company’s stock, valued at approximately $322,530. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,580 shares of company stock valued at $134,488. 3.73% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in Photronics by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 531,703 shares of the semiconductor company’s stock worth $4,387,000 after buying an additional 15,831 shares during the last quarter. Sentinel Trust Co. LBA raised its position in Photronics by 211.5% during the 1st quarter. Sentinel Trust Co. LBA now owns 267,040 shares of the semiconductor company’s stock worth $2,203,000 after buying an additional 181,310 shares during the last quarter. Foundry Partners LLC raised its position in Photronics by 14.4% during the 1st quarter. Foundry Partners LLC now owns 524,900 shares of the semiconductor company’s stock worth $4,330,000 after buying an additional 66,250 shares during the last quarter. Element Capital Management LLC purchased a new position in Photronics during the 1st quarter worth $254,000. Finally, Needham Investment Management LLC raised its position in Photronics by 32.8% during the 1st quarter. Needham Investment Management LLC now owns 548,166 shares of the semiconductor company’s stock worth $4,522,000 after buying an additional 135,416 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Several brokerages have recently weighed in on PLAB. BidaskClub upgraded shares of Photronics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 20th. ValuEngine downgraded shares of Photronics from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Finally, Zacks Investment Research upgraded shares of Photronics from a “sell” rating to a “hold” rating in a research report on Friday, February 16th.

About Photronics

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 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.

Earnings History for Photronics (NASDAQ:PLAB)

Receive News & Ratings for Photronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Photronics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply