BidaskClub Downgrades Photronics (NASDAQ:PLAB) to Strong Sell

BidaskClub cut shares of Photronics (NASDAQ:PLAB) from a sell rating to a strong sell rating in a research note released on Tuesday, April 16th, BidAskClub reports.

Other analysts have also issued research reports about the company. TheStreet lowered Photronics from a b- rating to a c rating in a research note on Friday, February 22nd. Zacks Investment Research raised Photronics from a sell rating to a hold rating in a research note on Tuesday, February 5th. Finally, ValuEngine lowered Photronics from a buy rating to a hold rating in a research note on Thursday, March 7th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. Photronics presently has a consensus rating of Hold and a consensus target price of $11.00.

NASDAQ PLAB traded down $0.05 during trading on Tuesday, hitting $9.35. 165,686 shares of the company’s stock traded hands, compared to its average volume of 611,968. Photronics has a 12-month low of $7.60 and a 12-month high of $11.58. The company has a market cap of $638.34 million, a PE ratio of 16.12, a price-to-earnings-growth ratio of 2.40 and a beta of 0.51. The company has a quick ratio of 2.19, a current ratio of 2.33 and a debt-to-equity ratio of 0.03.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Thursday, February 21st. The semiconductor company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The firm had revenue of $124.71 million for the quarter, compared to analysts’ expectations of $125.10 million. Photronics had a return on equity of 4.32% and a net margin of 7.72%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. As a group, equities research analysts anticipate that Photronics will post 0.4 EPS for the current year.

In related news, insider Kang Jyh Lee sold 5,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $10.14, for a total value of $50,700.00. Following the completion of the sale, the insider now owns 118,175 shares of the company’s stock, valued at $1,198,294.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher J. Progler sold 5,600 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $9.87, for a total value of $55,272.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,400 shares of company stock valued at $227,185. Insiders own 3.58% of the company’s stock.

Several large investors have recently modified their holdings of the company. Campbell & CO Investment Adviser LLC bought a new position in shares of Photronics during the first quarter valued at $217,000. O Shaughnessy Asset Management LLC bought a new stake in Photronics in the 1st quarter worth about $647,000. PNC Financial Services Group Inc. increased its holdings in Photronics by 1,082.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 280,313 shares of the semiconductor company’s stock worth $2,648,000 after buying an additional 256,600 shares in the last quarter. Royce & Associates LP increased its holdings in Photronics by 1.3% in the 1st quarter. Royce & Associates LP now owns 1,178,676 shares of the semiconductor company’s stock worth $11,138,000 after buying an additional 15,205 shares in the last quarter. Finally, Martingale Asset Management L P bought a new stake in Photronics in the 1st quarter worth about $952,000. Hedge funds and other institutional investors own 96.34% of the company’s stock.

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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