Photronics, Inc. (NASDAQ:PLAB) Sees Large Decrease in Short Interest


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Photronics, Inc. (NASDAQ:PLAB) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 1,590,000 shares, a decrease of 22.8% from the March 31st total of 2,060,000 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average trading volume of 505,600 shares, the short-interest ratio is currently 3.1 days.

PLAB has been the subject of a number of recent research reports. Stifel Nicolaus reiterated a “hold” rating and issued a $13.00 target price on shares of Photronics in a research report on Wednesday, March 3rd. Zacks Investment Research upgraded shares of Photronics from a “sell” rating to a “hold” rating in a research report on Wednesday, February 10th.

In other Photronics news, insider Kang Jyh Lee sold 10,000 shares of the company’s stock in a transaction on Thursday, March 18th. The shares were sold at an average price of $12.34, for a total transaction of $123,400.00. Following the completion of the transaction, the insider now directly owns 181,175 shares in the company, valued at $2,235,699.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.82% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in PLAB. Bedel Financial Consulting Inc. acquired a new stake in Photronics during the first quarter worth about $32,000. Founders Capital Management acquired a new stake in Photronics during the fourth quarter worth about $50,000. Arlington Partners LLC acquired a new stake in Photronics during the first quarter worth about $84,000. Advisory Services Network LLC increased its position in Photronics by 1,493.3% during the fourth quarter. Advisory Services Network LLC now owns 9,560 shares of the semiconductor company’s stock worth $107,000 after purchasing an additional 8,960 shares during the last quarter. Finally, XTX Markets LLC acquired a new stake in Photronics during the fourth quarter worth about $113,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Shares of NASDAQ PLAB traded down $0.30 during mid-day trading on Tuesday, reaching $12.64. The company’s stock had a trading volume of 434,720 shares, compared to its average volume of 485,375. The stock has a 50-day moving average of $12.62 and a two-hundred day moving average of $11.81. The stock has a market capitalization of $801.19 million, a P/E ratio of 23.85 and a beta of 0.91. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.10 and a current ratio of 3.50. Photronics has a 1-year low of $8.64 and a 1-year high of $13.56.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Wednesday, February 24th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. Photronics had a net margin of 5.55% and a return on equity of 3.60%. The firm had revenue of $152.07 million during the quarter, compared to analysts’ expectations of $150.05 million. Analysts predict that Photronics will post 0.79 EPS for the current fiscal year.

About Photronics

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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