Photronics (NASDAQ:PLAB) announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.06, Briefing.com reports. The business had revenue of $131.60 million for the quarter, compared to analyst estimates of $130.05 million. Photronics had a return on equity of 4.10% and a net margin of 7.30%. Photronics’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 EPS. Photronics updated its Q3 2019 guidance to $0.05-0.14 EPS and its Q3 guidance to $0.05-0.14 EPS.
PLAB traded down $0.26 during trading on Friday, hitting $8.19. The stock had a trading volume of 228,600 shares, compared to its average volume of 580,448. The company has a market capitalization of $574.08 million, a PE ratio of 14.12, a price-to-earnings-growth ratio of 2.06 and a beta of 0.62. Photronics has a one year low of $7.60 and a one year high of $11.58. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.67 and a quick ratio of 2.42.
In related news, VP Christopher J. Progler sold 5,600 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now directly owns 118,025 shares in the company, valued at approximately $1,118,877. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 12,050 shares of company stock valued at $112,425 over the last 90 days. 3.58% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Magnus Financial Group LLC bought a new stake in shares of Photronics during the 4th quarter valued at $127,000. Bank of New York Mellon Corp raised its holdings 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 buying an additional 19,077 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Photronics by 2.6% during the 4th quarter. BlackRock Inc. now owns 10,215,805 shares of the semiconductor company’s stock worth $98,888,000 after buying an additional 260,282 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings 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 buying an additional 130,694 shares in the last quarter. Finally, Brandywine Global Investment Management LLC raised its holdings in shares of Photronics by 6.3% during the 4th quarter. Brandywine Global Investment Management LLC now owns 36,670 shares of the semiconductor company’s stock worth $355,000 after buying an additional 2,170 shares in the last quarter. Hedge funds and other institutional investors own 95.82% of the company’s stock.
Several research firms have weighed in on PLAB. Zacks Investment Research lowered Photronics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. TheStreet raised Photronics from a “c” rating to a “b-” rating in a report on Wednesday, May 22nd. BidaskClub raised Photronics from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 27th. Finally, ValuEngine lowered Photronics from a “buy” rating to a “hold” rating in a report on Thursday, March 7th.
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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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