Photronics (NASDAQ:PLAB) Reaches New 52-Week High at $15.30

Photronics, Inc. (NASDAQ:PLAB)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $15.30 and last traded at $15.03, with a volume of 880985 shares trading hands. The stock had previously closed at $12.57.

A number of equities analysts recently commented on the company. BidaskClub lowered Photronics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Northland Securities set a $15.00 price target on Photronics and gave the company a “buy” rating in a research note on Monday, October 21st. DA Davidson reissued a “buy” rating and set a $18.00 price target on shares of Photronics in a research note on Thursday. Finally, Zacks Investment Research lowered Photronics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $14.67.

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.64 and a quick ratio of 2.39. The business has a 50-day simple moving average of $12.13 and a 200-day simple moving average of $10.17. The firm has a market capitalization of $821.15 million, a PE ratio of 28.07 and a beta of 0.46.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. Photronics had a return on equity of 3.60% and a net margin of 6.04%. The business had revenue of $156.30 million for the quarter, compared to the consensus estimate of $147.37 million. During the same period in the prior year, the business posted $0.18 earnings per share. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, research analysts expect that Photronics, Inc. will post 0.45 earnings per share for the current year.

In other Photronics news, Director Joseph A. Fiorita, Jr. sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $10.93, for a total transaction of $27,325.00. Following the sale, the director now directly owns 202,600 shares in the company, valued at $2,214,418. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Walter M. Fiederowicz sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.70, for a total value of $175,500.00. Following the sale, the director now owns 6,000 shares in the company, valued at $70,200. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,330 shares of company stock worth $833,429. Company insiders own 3.58% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Morgan Stanley raised its holdings in shares of Photronics by 1,649.3% in the second quarter. Morgan Stanley now owns 396,443 shares of the semiconductor company’s stock worth $3,252,000 after buying an additional 373,780 shares during the period. AQR Capital Management LLC raised its holdings in shares of Photronics by 71.5% in the second quarter. AQR Capital Management LLC now owns 785,497 shares of the semiconductor company’s stock worth $6,441,000 after buying an additional 327,571 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in shares of Photronics in the third quarter worth approximately $3,027,000. Nuveen Asset Management LLC purchased a new stake in shares of Photronics in the second quarter worth approximately $2,076,000. Finally, Allianz Asset Management GmbH raised its holdings in shares of Photronics by 81.3% in the second quarter. Allianz Asset Management GmbH now owns 535,904 shares of the semiconductor company’s stock worth $4,395,000 after buying an additional 240,274 shares during the period. Institutional investors and hedge funds own 94.96% of the company’s stock.

About Photronics (NASDAQ:PLAB)

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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