Photronics (NASDAQ:PLAB) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.11-0.17 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.12. The company issued revenue guidance of $143-151 million, compared to the consensus revenue estimate of $147.10 million.Photronics also updated its Q4 2019 guidance to $0.11-0.17 EPS.
Several brokerages have commented on PLAB. BidaskClub upgraded shares of Photronics from a hold rating to a buy rating in a research note on Friday, July 26th. Northland Securities assumed coverage on shares of Photronics in a research note on Thursday, July 18th. They issued an outperform rating and a $12.00 target price for the company. Zacks Investment Research cut shares of Photronics from a buy rating to a hold rating in a research note on Thursday, July 25th. Finally, TheStreet cut shares of Photronics from a b- rating to a c rating in a research note on Friday, June 7th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Photronics currently has an average rating of Buy and a consensus price target of $11.00.
PLAB opened at $9.73 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.67 and a quick ratio of 2.42. The firm has a fifty day moving average price of $8.93 and a 200 day moving average price of $9.23. Photronics has a 1 year low of $7.95 and a 1 year high of $11.58. The stock has a market cap of $625.05 million, a P/E ratio of 16.64, a P/E/G ratio of 2.24 and a beta of 0.59.
In related news, Director Walter M. Fiederowicz sold 5,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $9.71, for a total value of $48,550.00. Following the completion of the transaction, the director now directly owns 46,000 shares in the company, valued at approximately $446,660. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 20,200 shares of company stock valued at $184,162. Company insiders own 3.58% 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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