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 research note published on Saturday.

Photronics Price Performance

Photronics stock opened at $23.93 on Friday. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 11.08 and a beta of 1.40. Photronics has a 1 year low of $18.03 and a 1 year high of $34.16. The firm has a 50-day moving average of $23.59 and a two-hundred day moving average of $25.82.

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

Institutional Investors Weigh In On Photronics

Several large investors have recently modified their holdings of PLAB. ICA Group Wealth Management LLC bought a new stake in shares of Photronics in the 4th quarter valued at about $25,000. Quarry LP raised its holdings in shares of Photronics by 223.4% in the 2nd quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 1,816 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Photronics in the 2nd quarter valued at about $75,000. Palouse Capital Management Inc. bought a new position in shares of Photronics during the 2nd quarter worth approximately $75,000. Finally, CWM LLC raised its stake in shares of Photronics by 155.2% during the 2nd quarter. CWM LLC now owns 3,294 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 2,003 shares in the last quarter. Institutional investors own 88.38% of the company’s stock.

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.