Photronics (NASDAQ:PLAB) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Photronics (NASDAQ:PLAB) from a hold rating to a buy rating in a research report released on Thursday.

Photronics Stock Performance

PLAB stock opened at $23.65 on Thursday. Photronics has a 1 year low of $18.03 and a 1 year high of $34.16. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 10.95 and a beta of 1.40. The stock’s fifty day moving average is $24.21 and its two-hundred day moving average is $26.26.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.05). The firm had revenue of $211.00 million during the quarter, compared to the consensus estimate of $225.00 million. Photronics had a net margin of 16.22% and a return on equity of 9.46%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 earnings per share. As a group, analysts predict that Photronics will post 2.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Photronics

Several institutional investors have recently bought and sold shares of PLAB. ICA Group Wealth Management LLC acquired a new position in Photronics during the 4th quarter valued at about $25,000. Principal Securities Inc. acquired a new position in shares of Photronics during the fourth quarter valued at approximately $57,000. Quarry LP raised its holdings in Photronics by 223.4% during the second quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,816 shares in the last quarter. Innealta Capital LLC acquired a new stake in Photronics in the second quarter worth approximately $75,000. Finally, Palouse Capital Management Inc. bought a new stake in shares of Photronics in the 2nd quarter worth $75,000. Institutional investors and hedge funds own 88.38% of the company’s stock.

Photronics Company Profile

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates.