Photronics (NASDAQ:PLAB) released its quarterly earnings results on Wednesday. The semiconductor company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06, Briefing.com reports. The business had revenue of $131.60 million during the quarter, compared to analyst estimates of $130.05 million. Photronics had a net margin of 7.72% and a return on equity of 4.32%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Photronics updated its Q3 2019 guidance to $0.05-0.14 EPS and its Q3 guidance to $0.05-0.14 EPS.

PLAB traded down $0.43 on Thursday, reaching $8.50. The company had a trading volume of 349 shares, compared to its average volume of 376,270. The firm has a market capitalization of $567.26 million, a PE ratio of 14.76, a P/E/G ratio of 2.12 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 has a one year low of $7.60 and a one year high of $11.58.

In other Photronics news, VP Christopher J. Progler sold 5,600 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $9.48, for a total value of $53,088.00. Following the completion of the sale, the vice president now directly owns 118,025 shares of the company’s stock, valued at approximately $1,118,877. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kang Jyh Lee sold 5,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $10.14, for a total transaction of $50,700.00. Following the completion of the sale, the insider now directly owns 118,175 shares of the company’s stock, valued at $1,198,294.50. The disclosure for this sale can be found here. Insiders sold a total of 23,400 shares of company stock valued at $227,185 in the last quarter. 3.58% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Macquarie Group Ltd. lifted its holdings in Photronics by 154.8% in the 1st quarter. Macquarie Group Ltd. now owns 6,848 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 4,160 shares during the last quarter. Investors Research Corp purchased a new stake in Photronics during the first quarter valued at about $68,000. First Quadrant L P CA purchased a new stake in Photronics during the fourth quarter valued at about $77,000. Quantamental Technologies LLC purchased a new stake in Photronics during the fourth quarter valued at about $101,000. Finally, Econ Financial Services Corp purchased a new stake in Photronics during the first quarter valued at about $102,000. 96.30% of the stock is owned by institutional investors.

A number of equities analysts recently issued reports on the stock. BidaskClub upgraded shares of Photronics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 27th. Zacks Investment Research lowered shares of Photronics from a “hold” rating to a “sell” rating in a research report on Tuesday, February 12th. TheStreet lowered shares of Photronics from a “b-” rating to a “c” rating in a research report on Friday, February 22nd. Finally, ValuEngine lowered shares of Photronics from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Photronics has an average rating of “Hold” and an average price target of $11.00.

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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 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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Earnings History for Photronics (NASDAQ:PLAB)

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