Photronics (PLAB) Shares Down 5.4%

Photronics Inc (NASDAQ:PLAB)’s share price was down 5.4% during trading on Friday . The company traded as low as $7.90 and last traded at $7.95. Approximately 663,947 shares traded hands during trading, an increase of 40% from the average daily volume of 473,712 shares. The stock had previously closed at $8.40.

A number of equities analysts recently commented on PLAB shares. BidaskClub lowered shares of Photronics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 30th. ValuEngine lowered shares of Photronics from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research raised shares of Photronics from a “sell” rating to a “hold” rating in a report on Friday, February 16th.

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The company has a current ratio of 5.59, a quick ratio of 5.28 and a debt-to-equity ratio of 0.06. The firm has a market cap of $562.53 million, a P/E ratio of 41.84, a PEG ratio of 2.12 and a beta of 0.51.

Photronics (NASDAQ:PLAB) last released its earnings results on Wednesday, February 14th. The semiconductor company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. Photronics had a net margin of 3.68% and a return on equity of 1.96%. The firm had revenue of $123.40 million for the quarter, compared to analyst estimates of $114.13 million. During the same period last year, the firm earned $0.03 EPS. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. equities analysts anticipate that Photronics Inc will post 0.38 EPS for the current year.

In other Photronics news, Director Constantine S. Macricostas sold 400,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $7.73, for a total value of $3,092,000.00. Following the transaction, the director now directly owns 692,575 shares of the company’s stock, valued at approximately $5,353,604.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Walter M. Fiederowicz sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, April 11th. The shares were sold at an average price of $8.27, for a total transaction of $49,620.00. Following the completion of the transaction, the director now directly owns 39,000 shares in the company, valued at $322,530. The disclosure for this sale can be found here. Over the last three months, insiders sold 416,580 shares of company stock worth $3,226,488. Insiders own 3.73% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Photronics by 0.8% in the 1st quarter. BlackRock Inc. now owns 9,003,775 shares of the semiconductor company’s stock valued at $74,281,000 after buying an additional 70,813 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Photronics by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,837,782 shares of the semiconductor company’s stock valued at $48,162,000 after purchasing an additional 35,399 shares during the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Photronics by 0.5% during the 1st quarter. Donald Smith & CO. Inc. now owns 4,491,998 shares of the semiconductor company’s stock valued at $37,059,000 after purchasing an additional 22,767 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Photronics by 14.2% during the 4th quarter. Bank of New York Mellon Corp now owns 2,502,387 shares of the semiconductor company’s stock valued at $21,333,000 after purchasing an additional 311,985 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Photronics by 25.7% during the 1st quarter. Wedge Capital Management L L P NC now owns 1,925,138 shares of the semiconductor company’s stock valued at $15,882,000 after purchasing an additional 393,789 shares during the last quarter. 98.70% of the stock is currently owned by hedge funds and other 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 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.