Northland Securities started coverage on shares of Photronics (NASDAQ:PLAB) in a research note published on Thursday, Briefing.com Automated Import reports. The firm issued an outperform rating and a $12.00 target price on the semiconductor company’s stock.
PLAB has been the subject of a number of other research reports. BidaskClub upgraded shares of Zai Lab from a buy rating to a strong-buy rating in a research report on Friday, June 28th. Zacks Investment Research downgraded shares of Hallmark Financial Services from a buy rating to a hold rating in a research report on Thursday. Finally, TheStreet downgraded shares of Zimmer Biomet from a b- rating to a c rating in a research report on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Photronics has a consensus rating of Hold and an average price target of $10.63.
Shares of NASDAQ:PLAB opened at $8.75 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.42 and a current ratio of 2.67. The firm has a market capitalization of $586.83 million, a P/E ratio of 15.63, a P/E/G ratio of 2.11 and a beta of 0.60. Photronics has a 52 week low of $7.95 and a 52 week high of $11.58. The firm has a 50-day moving average price of $8.34.
Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.06. The firm had revenue of $131.60 million during the quarter, compared to the consensus estimate of $130.05 million. Photronics had a net margin of 7.30% and a return on equity of 4.10%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share. As a group, analysts predict that Photronics will post 0.42 earnings per share for the current fiscal year.
In other Photronics news, Director Walter M. Fiederowicz sold 5,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $8.47, for a total value of $42,350.00. Following the completion of the transaction, the director now directly owns 53,500 shares of the company’s stock, valued at $453,145. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 12,700 shares of company stock valued at $110,688. 3.58% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of PLAB. Investors Research Corp purchased a new position in Photronics in the first quarter valued at about $68,000. Econ Financial Services Corp purchased a new position in Photronics in the first quarter valued at about $102,000. Voit & Company LLC purchased a new position in Photronics in the first quarter valued at about $107,000. BNP Paribas Arbitrage SA increased its holdings in Photronics by 128.0% in the first quarter. BNP Paribas Arbitrage SA now owns 13,545 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 7,604 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Photronics by 253.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,352 shares of the semiconductor company’s stock valued at $136,000 after buying an additional 10,292 shares in the last quarter. 97.30% of the stock is owned by institutional investors.
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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