Photronics (NASDAQ:PLAB) Stock Rating Upgraded by StockNews.com

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

Photronics Trading Down 0.2 %

Photronics stock opened at $24.76 on Friday. Photronics has a 1-year low of $18.03 and a 1-year high of $34.16. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 11.46 and a beta of 1.40. The firm has a 50 day simple moving average of $23.66 and a 200 day simple moving average of $25.85.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.05). Photronics had a net margin of 16.22% and a return on equity of 9.46%. The firm had revenue of $211.00 million during the quarter, compared to the consensus estimate of $225.00 million. During the same period in the previous year, the business earned $0.51 earnings per share. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, equities research analysts forecast that Photronics will post 2.08 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in shares of Photronics during the 2nd quarter worth $1,603,000. Delphi Management Inc. MA lifted its holdings in shares of Photronics by 3.7% during the 2nd quarter. Delphi Management Inc. MA now owns 55,175 shares of the semiconductor company’s stock worth $1,361,000 after acquiring an additional 1,949 shares during the last quarter. Quarry LP lifted its holdings in shares of Photronics by 223.4% during the 2nd quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,816 shares during the last quarter. Algert Global LLC lifted its holdings in shares of Photronics by 17.6% during the 2nd quarter. Algert Global LLC now owns 42,562 shares of the semiconductor company’s stock worth $1,050,000 after acquiring an additional 6,382 shares during the last quarter. Finally, Meros Investment Management LP lifted its holdings in shares of Photronics by 1.6% during the 2nd quarter. Meros Investment Management LP now owns 450,924 shares of the semiconductor company’s stock worth $11,124,000 after acquiring an additional 7,250 shares during the last quarter. 88.38% of the stock is owned by institutional investors.

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.