Northland Capmk Analysts Increase Earnings Estimates for Photronics, Inc. (NASDAQ:PLAB)

Photronics, Inc. (NASDAQ:PLAB – Get Rating) – Northland Capmk boosted their Q3 2023 earnings per share estimates for Photronics in a research report issued on Thursday, May 25th. Northland Capmk analyst G. Richard now forecasts that the semiconductor company will post earnings per share of $0.53 for the quarter, up from their prior estimate of $0.44. The consensus estimate for Photronics’ current full-year earnings is $1.82 per share. Northland Capmk also issued estimates for Photronics’ Q4 2023 earnings at $0.56 EPS, Q2 2024 earnings at $0.53 EPS, Q3 2024 earnings at $0.53 EPS and Q4 2024 earnings at $0.54 EPS.

Photronics (NASDAQ:PLAB – Get Rating) last announced its quarterly earnings results on Wednesday, May 24th. The semiconductor company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. The business had revenue of $229.30 million during the quarter, compared to analyst estimates of $211.00 million. Photronics had a net margin of 14.04% and a return on equity of 11.09%. Photronics’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 EPS.

PLAB has been the topic of several other research reports. StockNews.com started coverage on Photronics in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Northland Securities upped their target price on shares of Photronics from $18.00 to $21.00 in a research note on Thursday. Finally, DA Davidson reiterated a “buy” rating on shares of Photronics in a report on Tuesday, April 11th.

Photronics Price Performance

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

Institutional Trading of Photronics

A number of hedge funds have recently bought and sold shares of the business. SummerHaven Investment Management LLC grew its stake in Photronics by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 41,458 shares of the semiconductor company’s stock valued at $698,000 after purchasing an additional 592 shares during the period. Navellier & Associates Inc. increased its holdings in Photronics by 2.4% during the third quarter. Navellier & Associates Inc. now owns 26,373 shares of the semiconductor company’s stock worth $386,000 after buying an additional 606 shares during the last quarter. Arizona State Retirement System increased its holdings in Photronics by 3.6% during the fourth quarter. Arizona State Retirement System now owns 17,382 shares of the semiconductor company’s stock worth $293,000 after buying an additional 607 shares during the last quarter. Pathstone Family Office LLC raised its position in Photronics by 8.5% in the fourth quarter. Pathstone Family Office LLC now owns 11,013 shares of the semiconductor company’s stock worth $184,000 after acquiring an additional 859 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Photronics by 3.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,355 shares of the semiconductor company’s stock valued at $437,000 after acquiring an additional 920 shares during the last quarter. 90.41% of the stock is currently owned by institutional investors.

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.