Photronics (NASDAQ:PLAB) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Photronics (NASDAQ:PLAB – Get Rating) issued its quarterly earnings data on Wednesday. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.10, Briefing.com reports. Photronics had a return on equity of 11.09% and a net margin of 14.04%. The business had revenue of $229.30 million during the quarter, compared to analyst estimates of $211.00 million. During the same period in the previous year, the firm earned $0.49 EPS. Photronics’s quarterly revenue was up 12.1% compared to the same quarter last year. Photronics updated its Q3 guidance to $0.48-54 EPS.

Photronics Trading Up 10.3 %

NASDAQ PLAB opened at $20.25 on Friday. The company has a market cap of $1.27 billion, a PE ratio of 10.18 and a beta of 1.18. The company has a current ratio of 3.89, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Photronics has a 12 month low of $13.86 and a 12 month high of $25.81. The stock has a 50 day moving average of $15.81 and a 200-day moving average of $17.16.

Analyst Ratings Changes

A number of research firms have weighed in on PLAB. StockNews.com began coverage on Photronics in a research report on Thursday, May 18th. They set a “buy” rating for the company. Northland Securities upped their price target on Photronics from $18.00 to $21.00 in a research report on Thursday. Finally, DA Davidson reaffirmed a “buy” rating on shares of Photronics in a research report on Tuesday, April 11th.

Institutional Investors Weigh In On Photronics

Several large investors have recently made changes to their positions in the stock. Pathstone Family Office LLC boosted its holdings in shares of Photronics by 8.5% in the 4th quarter. Pathstone Family Office LLC now owns 11,013 shares of the semiconductor company’s stock valued at $184,000 after buying an additional 859 shares during the last quarter. Federated Hermes Inc. raised its stake in Photronics by 77.5% in the 1st quarter. Federated Hermes Inc. now owns 2,798 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 1,222 shares during the period. Citigroup Inc. raised its stake in Photronics by 2.1% in the 1st quarter. Citigroup Inc. now owns 61,988 shares of the semiconductor company’s stock valued at $1,052,000 after acquiring an additional 1,281 shares during the period. Captrust Financial Advisors raised its stake in Photronics by 8.2% in the 4th quarter. Captrust Financial Advisors now owns 17,427 shares of the semiconductor company’s stock valued at $293,000 after acquiring an additional 1,319 shares during the period. Finally, Legal & General Group Plc raised its stake in Photronics by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 151,361 shares of the semiconductor company’s stock valued at $2,949,000 after acquiring an additional 1,859 shares during the period. Institutional investors and hedge funds own 90.41% of the company’s stock.

About Photronics

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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.