Photronics (NASDAQ:PLAB) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Photronics (NASDAQ:PLAB – Get Rating) issued its quarterly earnings data on Wednesday. The semiconductor company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.44 by $0.10, Briefing.com reports. Photronics had a return on equity of 11.09% and a net margin of 14.04%. The company had revenue of $229.30 million during the quarter, compared to analyst estimates of $211.00 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. Photronics’s revenue was up 12.1% compared to the same quarter last year. Photronics updated its Q3 guidance to $0.48-54 EPS.

Photronics Stock Up 10.3 %

NASDAQ PLAB opened at $20.25 on Friday. The stock’s 50-day moving average price is $15.81 and its 200-day moving average price is $17.16. The company has a quick ratio of 3.25, a current ratio of 3.89 and a debt-to-equity ratio of 0.02. Photronics has a 52 week low of $13.86 and a 52 week high of $25.81. The company has a market capitalization of $1.27 billion, a P/E ratio of 10.18 and a beta of 1.18.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Pathstone Family Office LLC raised its holdings in Photronics by 8.5% during the fourth quarter. Pathstone Family Office LLC now owns 11,013 shares of the semiconductor company’s stock valued at $184,000 after acquiring an additional 859 shares during the period. Federated Hermes Inc. raised its stake in Photronics by 77.5% during the 1st quarter. Federated Hermes Inc. now owns 2,798 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 1,222 shares during the period. Citigroup Inc. lifted its holdings in Photronics by 2.1% in the 1st quarter. Citigroup Inc. now owns 61,988 shares of the semiconductor company’s stock worth $1,052,000 after purchasing an additional 1,281 shares in the last quarter. Captrust Financial Advisors boosted its stake in Photronics by 8.2% in the 4th quarter. Captrust Financial Advisors now owns 17,427 shares of the semiconductor company’s stock worth $293,000 after purchasing an additional 1,319 shares during the period. Finally, Legal & General Group Plc grew its holdings in Photronics by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 151,361 shares of the semiconductor company’s stock valued at $2,949,000 after buying an additional 1,859 shares in the last quarter. Hedge funds and other institutional investors own 90.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com assumed coverage on shares of Photronics in a report on Thursday, May 18th. They set a “buy” rating for the company. DA Davidson reaffirmed a “buy” rating on shares of Photronics in a report on Tuesday, April 11th. Finally, Northland Securities upped their target price on shares of Photronics from $18.00 to $21.00 in a report on Thursday.

Photronics Company Profile

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Photronics, Inc engages in the provision of photomasks. It manufactures semiconductors and flat-panel displays and is used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during the fabrication of integrated circuits, a variety of FPDs and other types of electrical and optical components.