$151.35 Million in Sales Expected for Photronics, Inc. (NASDAQ:PLAB) This Quarter

Equities research analysts expect Photronics, Inc. (NASDAQ:PLAB) to report sales of $151.35 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Photronics’ earnings, with the highest sales estimate coming in at $152.50 million and the lowest estimate coming in at $150.20 million. Photronics posted sales of $138.11 million in the same quarter last year, which suggests a positive year-over-year growth rate of 9.6%. The business is expected to announce its next earnings results on Tuesday, August 18th.

According to Zacks, analysts expect that Photronics will report full year sales of $613.50 million for the current year, with estimates ranging from $612.00 million to $615.00 million. For the next financial year, analysts expect that the company will post sales of $666.50 million, with estimates ranging from $655.00 million to $678.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Photronics.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Wednesday, May 27th. The semiconductor company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). Photronics had a return on equity of 3.58% and a net margin of 5.47%. The company had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $147.63 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The firm’s revenue was up 12.6% on a year-over-year basis.

A number of analysts have recently issued reports on PLAB shares. BidaskClub upgraded shares of Photronics from a “sell” rating to a “hold” rating in a report on Thursday, April 16th. Stifel Nicolaus lowered Photronics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $15.00 to $13.00 in a research report on Monday, June 22nd. Finally, Zacks Investment Research downgraded Photronics from a “hold” rating to a “sell” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Photronics presently has a consensus rating of “Hold” and a consensus target price of $16.00.

PLAB stock traded down $0.24 during trading on Monday, reaching $10.63. 714,567 shares of the stock were exchanged, compared to its average volume of 598,567. The company has a current ratio of 3.08, a quick ratio of 2.71 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $713.32 million, a price-to-earnings ratio of 20.84 and a beta of 0.81. The business has a 50 day moving average price of $11.89 and a 200-day moving average price of $12.74. Photronics has a 1 year low of $8.01 and a 1 year high of $16.75.

In other news, EVP Christopher J. Progler sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $11.51, for a total value of $34,530.00. Following the transaction, the executive vice president now directly owns 122,733 shares in the company, valued at approximately $1,412,656.83. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.82% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its stake in Photronics by 6.6% during the fourth quarter. Victory Capital Management Inc. now owns 260,833 shares of the semiconductor company’s stock worth $3,333,000 after purchasing an additional 16,192 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Photronics by 5.0% in the 4th quarter. Rhumbline Advisers now owns 225,787 shares of the semiconductor company’s stock valued at $3,558,000 after buying an additional 10,793 shares during the period. Swiss National Bank lifted its stake in Photronics by 2.2% during the 4th quarter. Swiss National Bank now owns 128,500 shares of the semiconductor company’s stock worth $2,025,000 after acquiring an additional 2,800 shares in the last quarter. State Street Corp boosted its holdings in Photronics by 3.1% during the 4th quarter. State Street Corp now owns 2,322,034 shares of the semiconductor company’s stock valued at $36,595,000 after acquiring an additional 68,934 shares during the period. Finally, State of Tennessee Treasury Department grew its position in Photronics by 14.0% in the 4th quarter. State of Tennessee Treasury Department now owns 34,778 shares of the semiconductor company’s stock valued at $548,000 after acquiring an additional 4,262 shares in the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.

Photronics Company Profile

Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz or glass plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.

Read More: What is the downside to momentum investing?

Get a free copy of the Zacks research report on Photronics (PLAB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Photronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Photronics and related companies with MarketBeat.com's FREE daily email newsletter.