Northland Securities Raises Photronics (NASDAQ:PLAB) Price Target to $26.00

Photronics (NASDAQ:PLABGet Rating) had its target price boosted by stock analysts at Northland Securities from $25.00 to $26.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ target price would suggest a potential upside of 33.13% from the company’s previous close.

Several other brokerages also recently weighed in on PLAB. Zacks Investment Research downgraded shares of Photronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Stifel Nicolaus increased their price objective on shares of Photronics from $21.00 to $23.00 in a research report on Wednesday. StockNews.com initiated coverage on shares of Photronics in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Finally, DA Davidson increased their price objective on shares of Photronics from $26.00 to $30.00 in a research report on Thursday. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $25.00.

Shares of PLAB stock traded up $1.67 during trading hours on Thursday, hitting $19.53. The company had a trading volume of 12,372 shares, compared to its average volume of 598,801. The company’s fifty day moving average is $15.97 and its 200 day moving average is $16.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.13 and a quick ratio of 2.80. Photronics has a fifty-two week low of $11.65 and a fifty-two week high of $20.30. The stock has a market capitalization of $1.21 billion, a PE ratio of 16.38 and a beta of 0.98.

Photronics (NASDAQ:PLABGet Rating) last announced its earnings results on Wednesday, May 25th. The semiconductor company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.14. Photronics had a net margin of 10.05% and a return on equity of 6.66%. The firm had revenue of $204.50 million for the quarter, compared to the consensus estimate of $192.37 million. During the same period in the prior year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. Equities analysts forecast that Photronics will post 1.49 earnings per share for the current year.

In related news, Director Mitchell G. Tyson sold 2,000 shares of the stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $18.39, for a total value of $36,780.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christopher J. Progler sold 11,481 shares of the stock in a transaction on Monday, April 4th. The shares were sold at an average price of $16.54, for a total transaction of $189,895.74. Following the completion of the transaction, the executive vice president now directly owns 159,593 shares in the company, valued at $2,639,668.22. The disclosure for this sale can be found here. Insiders sold a total of 27,481 shares of company stock worth $470,276 over the last ninety days. Insiders own 3.70% of the company’s stock.

A number of large investors have recently modified their holdings of PLAB. Covestor Ltd lifted its stake in shares of Photronics by 587.5% in the 1st quarter. Covestor Ltd now owns 2,427 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 2,074 shares during the period. Federated Hermes Inc. lifted its stake in shares of Photronics by 77.5% in the 1st quarter. Federated Hermes Inc. now owns 2,798 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 1,222 shares during the period. National Bank of Canada FI acquired a new stake in shares of Photronics in the 1st quarter worth $48,000. Lazard Asset Management LLC acquired a new stake in shares of Photronics in the 1st quarter worth $59,000. Finally, Advisor Group Holdings Inc. lifted its stake in shares of Photronics by 211.9% in the 3rd quarter. Advisor Group Holdings Inc. now owns 4,432 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 3,011 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

About Photronics (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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