$175.00 Million in Sales Expected for Photronics, Inc. (NASDAQ:PLAB) This Quarter

Brokerages expect Photronics, Inc. (NASDAQ:PLAB) to announce $175.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Photronics’ earnings. Photronics reported sales of $149.29 million in the same quarter last year, which indicates a positive year-over-year growth rate of 17.2%. The business is scheduled to issue its next earnings results on Wednesday, December 8th.

On average, analysts expect that Photronics will report full year sales of $657.50 million for the current fiscal year. For the next fiscal year, analysts expect that the company will report sales of $705.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Photronics.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Tuesday, August 24th. The semiconductor company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. The business had revenue of $170.60 million during the quarter, compared to the consensus estimate of $168.33 million. Photronics had a net margin of 6.66% and a return on equity of 3.93%. Photronics’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 earnings per share.

Several research analysts have recently weighed in on PLAB shares. DA Davidson upped their price target on shares of Photronics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 26th. Zacks Investment Research cut shares of Photronics from a “buy” rating to a “hold” rating in a research note on Tuesday, August 31st.

NASDAQ:PLAB traded up $0.03 during trading hours on Friday, hitting $13.78. The stock had a trading volume of 1,845 shares, compared to its average volume of 453,155. Photronics has a one year low of $9.40 and a one year high of $15.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.85 and a current ratio of 3.16. The company has a market cap of $842.66 million, a price-to-earnings ratio of 20.22 and a beta of 0.90. The business’s 50 day moving average is $13.67 and its 200-day moving average is $13.13.

In other Photronics news, EVP Christopher J. Progler sold 7,156 shares of the business’s stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $15.05, for a total transaction of $107,697.80. Following the completion of the sale, the executive vice president now owns 143,306 shares in the company, valued at approximately $2,156,755.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John P. Jordan sold 2,600 shares of Photronics stock in a transaction on Friday, September 3rd. The stock was sold at an average price of $14.81, for a total transaction of $38,506.00. Following the transaction, the chief financial officer now directly owns 134,342 shares in the company, valued at $1,989,605.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,006 shares of company stock worth $1,035,621. 3.65% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. FORA Capital LLC bought a new position in shares of Photronics in the second quarter worth approximately $72,000. Captrust Financial Advisors boosted its stake in shares of Photronics by 104.2% during the first quarter. Captrust Financial Advisors now owns 7,789 shares of the semiconductor company’s stock valued at $100,000 after purchasing an additional 3,974 shares during the period. Brandywine Global Investment Management LLC purchased a new stake in shares of Photronics during the second quarter valued at approximately $134,000. Advisory Services Network LLC lifted its stake in Photronics by 13.5% in the first quarter. Advisory Services Network LLC now owns 10,847 shares of the semiconductor company’s stock worth $139,000 after acquiring an additional 1,287 shares during the period. Finally, Hancock Whitney Corp purchased a new stake in Photronics in the second quarter worth $162,000. Hedge funds and other institutional investors own 88.84% of the company’s stock.

About Photronics

Photronics, Inc manufactures photomasks with high precision photographic quartz or glass plates containing microscopic images of electronic circuits. It manufactures semiconductors and flat-panel displays and is used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during the fabrication of integrated circuits, a variety of FPDs and other types of electrical and optical components.

Read More: Capital Gains

Get a free copy of the Zacks research report on Photronics (PLAB)

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.