Photronics (NASDAQ:PLAB) Earns Outperform Rating from Analysts at Northland Securities

Equities research analysts at Northland Securities began coverage on shares of Photronics (NASDAQ:PLAB) in a research note issued to investors on Thursday, Marketbeat.com reports. The firm set an “outperform” rating and a $12.00 price target on the semiconductor company’s stock. Northland Securities’ price objective indicates a potential upside of 37.14% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. BidaskClub raised Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. Zacks Investment Research lowered Hallmark Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, TheStreet lowered Zimmer Biomet from a “b-” rating to a “c” rating in a research note on Friday, June 7th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $10.63.

Shares of NASDAQ PLAB opened at $8.75 on Thursday. The stock has a market capitalization of $586.83 million, a PE ratio of 15.09, a PEG ratio of 2.04 and a beta of 0.60. Photronics has a fifty-two week low of $7.95 and a fifty-two week high of $11.58. 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 company has a fifty day moving average of $8.34.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.06. The company had revenue of $131.60 million during the quarter, compared to analysts’ expectations of $130.05 million. Photronics had a return on equity of 4.10% and a net margin of 7.30%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 earnings per share. Analysts predict that Photronics will post 0.42 EPS for the current fiscal year.

In related news, Director Walter M. Fiederowicz sold 5,000 shares of Photronics stock in a transaction on Friday, July 5th. The stock was sold at an average price of $8.47, for a total transaction of $42,350.00. Following the completion of the sale, the director now owns 53,500 shares of the company’s stock, valued at $453,145. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 12,700 shares of company stock valued at $110,688 in the last three months. 3.58% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. KAMES CAPITAL plc bought a new stake in Photronics during the first quarter worth about $11,013,000. BlackRock Inc. lifted its stake in Photronics by 2.6% during the fourth quarter. BlackRock Inc. now owns 10,215,805 shares of the semiconductor company’s stock worth $98,888,000 after purchasing an additional 260,282 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Photronics by 1,082.1% during the first quarter. PNC Financial Services Group Inc. now owns 280,313 shares of the semiconductor company’s stock worth $2,648,000 after purchasing an additional 256,600 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Photronics by 21.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,023,055 shares of the semiconductor company’s stock worth $9,668,000 after purchasing an additional 181,018 shares during the last quarter. Finally, IndexIQ Advisors LLC bought a new stake in Photronics during the first quarter worth about $1,583,000. 97.30% of the stock is owned by institutional investors.

Photronics Company Profile

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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