Wall Street brokerages expect Photronics, Inc. (NASDAQ:PLAB – Get Rating) to report sales of $192.55 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Photronics’ earnings, with the highest sales estimate coming in at $193.10 million and the lowest estimate coming in at $192.00 million. Photronics reported sales of $159.76 million during the same quarter last year, which indicates a positive year over year growth rate of 20.5%. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Photronics will report full-year sales of $777.90 million for the current fiscal year, with estimates ranging from $763.80 million to $792.00 million. For the next financial year, analysts forecast that the business will post sales of $830.00 million, with estimates ranging from $805.00 million to $855.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Photronics.
Photronics (NASDAQ:PLAB – Get Rating) last posted its earnings results on Wednesday, February 23rd. The semiconductor company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.31 by $0.07. Photronics had a net margin of 10.05% and a return on equity of 6.66%. The firm had revenue of $189.80 million for the quarter, compared to analysts’ expectations of $183.10 million. During the same quarter last year, the firm earned $0.13 EPS. The company’s quarterly revenue was up 24.8% compared to the same quarter last year.
NASDAQ:PLAB opened at $15.42 on Monday. The company has a current ratio of 3.13, a quick ratio of 2.80 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $951.86 million, a PE ratio of 13.29 and a beta of 0.98. The firm’s 50 day moving average is $16.18 and its 200 day moving average is $16.63. Photronics has a 12 month low of $11.65 and a 12 month high of $20.30.
In other news, EVP Christopher J. Progler sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $17.96, for a total transaction of $179,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mitchell G. Tyson sold 2,000 shares of the stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $18.39, for a total transaction of $36,780.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,781 shares of company stock valued at $476,318. Company insiders own 3.70% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in PLAB. Covestor Ltd grew its holdings in shares of Photronics by 587.5% during the first quarter. Covestor Ltd now owns 2,427 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 2,074 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Photronics by 77.5% in the first quarter. Federated Hermes Inc. now owns 2,798 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 1,222 shares during the last quarter. National Bank of Canada FI purchased a new stake in Photronics in the first quarter worth approximately $48,000. Denali Advisors LLC bought a new position in Photronics in the fourth quarter worth approximately $62,000. Finally, Lazard Asset Management LLC bought a new position in Photronics in the first quarter worth approximately $59,000. Institutional investors and hedge funds own 88.49% of the company’s stock.
Photronics Company Profile (Get Rating)
Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, Korea, Europe, China, and internationally. The company offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, FDP substrates, and other types of electrical and optical components.
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