FY2016 EPS Estimates for Photronics Inc. (PLAB) Lowered by DA Davidson
Photronics Inc. (NASDAQ:PLAB) – Investment analysts at DA Davidson decreased their FY2016 earnings estimates for shares of Photronics in a research note issued to investors on Friday. DA Davidson analyst T. Diffely now anticipates that the brokerage will earn $0.47 per share for the year, down from their prior forecast of $0.58. DA Davidson currently has a “Buy” rating and a $15.00 price target on the stock. DA Davidson also issued estimates for Photronics’ Q4 2017 earnings at $0.22 EPS, FY2017 earnings at $0.60 EPS, Q1 2018 earnings at $0.18 EPS, Q2 2018 earnings at $0.21 EPS, Q3 2018 earnings at $0.25 EPS, Q4 2018 earnings at $0.26 EPS and FY2018 earnings at $0.90 EPS.
Photronics (NASDAQ:PLAB) last issued its earnings results on Thursday, August 18th. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The business earned $123.20 million during the quarter, compared to analyst estimates of $123.54 million. Photronics had a return on equity of 6.07% and a net margin of 11.50%. The business’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period last year, the business earned $0.17 EPS.
Several other research analysts also recently commented on PLAB. Zacks Investment Research raised Photronics from a “sell” rating to a “hold” rating in a report on Saturday, July 23rd. SunTrust Banks Inc. set a $12.00 target price on Photronics and gave the stock a “buy” rating in a report on Tuesday, October 4th. Stifel Nicolaus downgraded Photronics from a “buy” rating to a “hold” rating in a report on Friday, November 11th. Finally, Needham & Company LLC downgraded Photronics from a “buy” rating to a “hold” rating in a report on Friday, November 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $13.00.
Shares of Photronics (NASDAQ:PLAB) opened at 10.00 on Monday. The firm has a market cap of $681.86 million, a PE ratio of 12.27 and a beta of 0.58. Photronics has a 12 month low of $8.20 and a 12 month high of $13.05. The stock has a 50 day moving average price of $10.16 and a 200 day moving average price of $9.73.
Hedge funds have recently modified their holdings of the stock. National Asset Management Inc. boosted its stake in shares of Photronics by 11.5% in the second quarter. National Asset Management Inc. now owns 12,044 shares of the company’s stock valued at $109,000 after buying an additional 1,247 shares during the last quarter. Frontier Wealth Management LLC acquired a new stake in shares of Photronics during the second quarter valued at approximately $110,000. Teacher Retirement System of Texas boosted its stake in shares of Photronics by 18.5% in the third quarter. Teacher Retirement System of Texas now owns 11,236 shares of the company’s stock valued at $116,000 after buying an additional 1,755 shares during the last quarter. Virginia Retirement Systems ET AL boosted its stake in shares of Photronics by 15.8% in the third quarter. Virginia Retirement Systems ET AL now owns 11,700 shares of the company’s stock valued at $121,000 after buying an additional 1,600 shares during the last quarter. Finally, Icon Advisers Inc. Co. acquired a new stake in shares of Photronics during the second quarter valued at approximately $150,000. Institutional investors own 98.56% of the company’s stock.
In other Photronics news, Director Joseph A. Fiorita, Jr. sold 12,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $10.00, for a total transaction of $120,000.00. Following the completion of the sale, the director now owns 161,100 shares in the company, valued at approximately $1,611,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Walter M. Fiederowicz sold 21,250 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $9.95, for a total transaction of $211,437.50. Following the sale, the director now owns 42,250 shares of the company’s stock, valued at approximately $420,387.50. The disclosure for this sale can be found here. Company insiders own 4.12% of the company’s stock.
Photronics Company Profile
Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. The Company supports customers across the full spectrum of integrated circuit (IC) production and flat panel display (FPD) technologies by manufacturing photomasks using electron beam or optical (laser-based) systems.
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