$130.05 Million in Sales Expected for Photronics, Inc. (PLAB) This Quarter

Equities analysts expect Photronics, Inc. (NASDAQ:PLAB) to post $130.05 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Photronics’ earnings, with the highest sales estimate coming in at $130.10 million and the lowest estimate coming in at $130.00 million. Photronics posted sales of $130.78 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.6%. The business is scheduled to report its next earnings results on Tuesday, May 28th.

According to Zacks, analysts expect that Photronics will report full year sales of $542.35 million for the current financial year, with estimates ranging from $540.00 million to $544.70 million. For the next financial year, analysts expect that the company will post sales of $640.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Photronics.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings results on Thursday, February 21st. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The firm had revenue of $124.71 million for the quarter, compared to analysts’ expectations of $125.10 million. Photronics had a return on equity of 4.32% and a net margin of 7.72%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS.

A number of brokerages have weighed in on PLAB. Zacks Investment Research lowered Photronics from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. TheStreet lowered Photronics from a “b-” rating to a “c” rating in a report on Friday, February 22nd. BidaskClub lowered Photronics from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Finally, ValuEngine lowered Photronics from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Photronics presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Shares of PLAB opened at $9.55 on Tuesday. Photronics has a twelve month low of $7.60 and a twelve month high of $11.58. The company has a market capitalization of $643.70 million, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 2.40 and a beta of 0.51. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 2.33.

In other Photronics news, VP Christopher J. Progler sold 5,600 shares of Photronics stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $9.48, for a total value of $53,088.00. Following the sale, the vice president now owns 118,025 shares of the company’s stock, valued at approximately $1,118,877. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kang Jyh Lee sold 5,000 shares of Photronics stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $10.14, for a total value of $50,700.00. Following the completion of the sale, the insider now directly owns 118,175 shares in the company, valued at approximately $1,198,294.50. The disclosure for this sale can be found here. Insiders sold a total of 21,900 shares of company stock worth $213,115 in the last ninety days. 3.58% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PLAB. Wells Fargo & Company MN boosted its stake in shares of Photronics by 21.9% during the 3rd quarter. Wells Fargo & Company MN now owns 131,488 shares of the semiconductor company’s stock worth $1,295,000 after acquiring an additional 23,592 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Photronics by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 852,537 shares of the semiconductor company’s stock worth $8,397,000 after acquiring an additional 19,077 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of Photronics by 50.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 45,687 shares of the semiconductor company’s stock worth $450,000 after acquiring an additional 15,325 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Photronics by 49.2% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 396,169 shares of the semiconductor company’s stock worth $3,902,000 after acquiring an additional 130,694 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Photronics by 6.0% during the 3rd quarter. Legal & General Group Plc now owns 146,408 shares of the semiconductor company’s stock worth $1,431,000 after acquiring an additional 8,297 shares in the last quarter. 96.45% of the stock is currently owned by institutional investors.

About Photronics

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.

Featured Article: Diversification

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

Earnings History and Estimates for Photronics (NASDAQ:PLAB)

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.