Equities research analysts forecast that Photronics, Inc. (NASDAQ:PLAB) will post $168.50 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Photronics’ earnings. The highest sales estimate is $170.00 million and the lowest is $167.00 million. Photronics posted sales of $157.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.7%. The company is scheduled to issue its next quarterly earnings results on Thursday, August 26th.
On average, analysts expect that Photronics will report full-year sales of $654.05 million for the current year, with estimates ranging from $651.10 million to $657.00 million. For the next year, analysts expect that the company will post sales of $695.50 million, with estimates ranging from $686.00 million to $705.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Photronics.
Photronics (NASDAQ:PLAB) last issued its quarterly earnings results on Tuesday, May 25th. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. The business had revenue of $159.80 million for the quarter, compared to analysts’ expectations of $158.27 million. Photronics had a net margin of 5.24% and a return on equity of 3.31%. During the same quarter in the prior year, the company earned $0.10 earnings per share.
Shares of PLAB opened at $13.35 on Friday. The firm has a market capitalization of $846.19 million, a PE ratio of 26.70 and a beta of 0.91. Photronics has a 1 year low of $8.64 and a 1 year high of $13.74. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.48 and a quick ratio of 3.09. The stock’s 50-day simple moving average is $12.95.
In other Photronics news, CEO Peter S. Kirlin sold 35,875 shares of the stock in a transaction that occurred on Monday, May 24th. The shares were sold at an average price of $13.53, for a total value of $485,388.75. Following the transaction, the chief executive officer now directly owns 403,013 shares in the company, valued at $5,452,765.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kang Jyh Lee sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $12.34, for a total transaction of $123,400.00. Following the completion of the transaction, the insider now owns 181,175 shares in the company, valued at $2,235,699.50. The disclosure for this sale can be found here. Insiders have sold 56,029 shares of company stock worth $745,525 over the last 90 days. Insiders own 3.65% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. SummerHaven Investment Management LLC purchased a new position in Photronics in the fourth quarter valued at approximately $414,000. BlackRock Inc. grew its position in shares of Photronics by 4.7% during the fourth quarter. BlackRock Inc. now owns 10,328,958 shares of the semiconductor company’s stock worth $115,270,000 after acquiring an additional 464,017 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Photronics by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 660,486 shares of the semiconductor company’s stock worth $7,372,000 after acquiring an additional 6,979 shares during the last quarter. Rhumbline Advisers grew its position in shares of Photronics by 10.3% during the fourth quarter. Rhumbline Advisers now owns 222,997 shares of the semiconductor company’s stock worth $2,489,000 after acquiring an additional 20,831 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Photronics by 149.7% during the fourth quarter. Canada Pension Plan Investment Board now owns 74,900 shares of the semiconductor company’s stock worth $836,000 after acquiring an additional 44,900 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.
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.
Further Reading: Market Timing – The Benefits and the Danger
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.