Investment Analysts’ Weekly Ratings Changes for Photronics (PLAB)

Photronics (NASDAQ: PLAB) has recently received a number of price target changes and ratings updates:

  • 10/31/2018 – Photronics was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 10/24/2018 – Photronics was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 10/24/2018 – Photronics was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Photronics is a leading worldwide manufacturer of photomasks. Photomasks are high precision quartz plates that contain microscopic images of electronic circuits. A key element in the manufacture of semiconductors and flat panel displays, photomasks are used to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits, a variety of flat panel displays and, to a lesser extent, other types of electrical and optical components. They are produced in accordance with product designs provided by customers at strategically located manufacturing facilities in Asia, Europe, and North America. “
  • 10/17/2018 – Photronics was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 10/16/2018 – Photronics was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 10/4/2018 – Photronics was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 9/11/2018 – Photronics was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 9/11/2018 – Photronics was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.

Shares of PLAB opened at $10.18 on Monday. Photronics, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $11.00. The stock has a market capitalization of $711.93 million, a P/E ratio of 53.58, a PEG ratio of 2.10 and a beta of 0.68.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, August 22nd. The semiconductor company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. Photronics had a return on equity of 3.65% and a net margin of 6.83%. The company had revenue of $136.39 million during the quarter, compared to analyst estimates of $132.67 million. During the same quarter last year, the firm posted $0.06 EPS. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, analysts forecast that Photronics, Inc. will post 0.58 earnings per share for the current year.

In other Photronics news, VP Christopher J. Progler sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $10.60, for a total value of $31,800.00. Following the completion of the transaction, the vice president now owns 92,900 shares in the company, valued at approximately $984,740. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher J. Progler sold 5,300 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $9.84, for a total value of $52,152.00. Following the completion of the transaction, the vice president now owns 92,400 shares of the company’s stock, valued at approximately $909,216. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,670 shares of company stock valued at $156,748. 3.73% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PLAB. BlackRock Inc. boosted its stake in Photronics by 7.2% in the 2nd quarter. BlackRock Inc. now owns 9,656,455 shares of the semiconductor company’s stock worth $77,011,000 after purchasing an additional 652,680 shares during the period. Millennium Management LLC boosted its stake in Photronics by 28.2% in the 2nd quarter. Millennium Management LLC now owns 1,324,211 shares of the semiconductor company’s stock worth $10,561,000 after purchasing an additional 291,629 shares during the period. Cortina Asset Management LLC boosted its stake in Photronics by 58.2% in the 2nd quarter. Cortina Asset Management LLC now owns 646,950 shares of the semiconductor company’s stock worth $5,159,000 after purchasing an additional 238,023 shares during the period. Quantum Capital Management boosted its position in shares of Photronics by 355.0% during the 2nd quarter. Quantum Capital Management now owns 262,828 shares of the semiconductor company’s stock valued at $2,096,000 after acquiring an additional 205,059 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Photronics by 420.2% during the 3rd quarter. Victory Capital Management Inc. now owns 134,861 shares of the semiconductor company’s stock valued at $1,328,000 after acquiring an additional 108,936 shares during the last quarter. Institutional investors and hedge funds own 92.74% 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 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.

Further Reading: Google Finance Portfolio Workaround

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