Photronics (NASDAQ:PLAB) Lifted to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Photronics (NASDAQ:PLAB) from a buy rating to a strong-buy rating in a research report released on Saturday morning, BidAskClub reports.

A number of other research analysts also recently issued reports on PLAB. Zacks Investment Research upgraded Photronics from a hold rating to a buy rating and set a $11.00 price target on the stock in a research note on Friday, August 23rd. Northland Securities set a $12.00 price target on Photronics and gave the stock a buy rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Photronics presently has an average rating of Buy and an average price target of $11.50.

NASDAQ:PLAB opened at $11.56 on Friday. The stock’s 50 day moving average price is $10.94 and its 200 day moving average price is $9.44. The company has a market capitalization of $760.67 million, a PE ratio of 19.93 and a beta of 0.48. The company has a quick ratio of 2.39, a current ratio of 2.64 and a debt-to-equity ratio of 0.05. Photronics has a 52-week low of $7.95 and a 52-week high of $11.59.

Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Tuesday, August 20th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $138.11 million for the quarter, compared to the consensus estimate of $137.13 million. Photronics had a return on equity of 3.60% and a net margin of 6.04%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. As a group, sell-side analysts anticipate that Photronics will post 0.45 EPS for the current fiscal year.

In other Photronics news, Director Walter M. Fiederowicz sold 5,000 shares of Photronics stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $10.84, for a total value of $54,200.00. Following the transaction, the director now directly owns 36,000 shares in the company, valued at approximately $390,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph A. Fiorita, Jr. sold 2,500 shares of Photronics stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $11.41, for a total value of $28,525.00. Following the completion of the transaction, the director now owns 200,100 shares in the company, valued at $2,283,141. The disclosure for this sale can be found here. Insiders have sold a total of 69,343 shares of company stock worth $736,981 in the last 90 days. 3.58% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale purchased a new position in shares of Photronics in the 2nd quarter valued at approximately $66,000. Ellington Management Group LLC purchased a new position in shares of Photronics in the 2nd quarter valued at approximately $123,000. Bailard Inc. purchased a new position in shares of Photronics in the 3rd quarter valued at approximately $183,000. Cubist Systematic Strategies LLC purchased a new position in shares of Photronics in the 2nd quarter valued at approximately $163,000. Finally, Jefferies Group LLC purchased a new position in shares of Photronics in the 2nd quarter valued at approximately $184,000. Institutional investors own 95.03% 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.

Featured Story: What are gap-down stocks?

Receive News & Ratings for Photronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Photronics and related companies with MarketBeat.com's FREE daily email newsletter.