Needham & Company LLC downgraded shares of Photronics Inc. (NASDAQ:PLAB) from a buy rating to a hold rating in a report published on Friday.

Several other research firms have also weighed in on PLAB. Stifel Nicolaus lowered shares of Photronics from a buy rating to a hold rating in a report on Friday, November 11th. SunTrust Banks Inc. set a $12.00 target price on shares of Photronics and gave the stock a buy rating in a report on Tuesday, October 4th. Zacks Investment Research raised shares of Photronics from a sell rating to a hold rating in a report on Tuesday, September 13th. Finally, DA Davidson reissued a buy rating and set a $15.00 price objective on shares of Photronics in a report on Monday, August 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Photronics has an average rating of Hold and an average target price of $13.00.

Shares of Photronics (NASDAQ:PLAB) opened at 10.00 on Friday. Photronics has a 52-week low of $8.20 and a 52-week high of $13.05. The company has a market capitalization of $681.86 million, a P/E ratio of 12.27 and a beta of 0.58. The firm’s 50 day moving average is $10.16 and its 200-day moving average is $9.73.

Photronics (NASDAQ:PLAB) last posted its earnings results on Thursday, August 18th. The company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.02. Photronics had a return on equity of 6.07% and a net margin of 11.50%. The firm earned $123.20 million during the quarter, compared to the consensus estimate of $123.54 million. During the same period in the previous year, the company posted $0.17 EPS. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. Equities research analysts anticipate that Photronics will post $0.55 earnings per share for the current fiscal year.

In related news, Director Walter M. Fiederowicz sold 21,250 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $9.95, for a total value of $211,437.50. Following the sale, the director now directly owns 42,250 shares in the company, valued at approximately $420,387.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph A. Fiorita, Jr. sold 12,000 shares of the stock in a transaction that occurred 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 $1,611,000. The disclosure for this sale can be found here. Company insiders own 4.12% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas increased 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 worth $116,000 after buying an additional 1,755 shares in the last quarter. Virginia Retirement Systems ET AL increased 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 worth $121,000 after buying an additional 1,600 shares in the last quarter. National Asset Management Inc. increased 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 worth $109,000 after buying an additional 1,247 shares in the last quarter. Frontier Wealth Management LLC purchased a new stake in shares of Photronics during the second quarter worth $110,000. Finally, Principal Financial Group Inc. increased its stake in shares of Photronics by 3.1% in the third quarter. Principal Financial Group Inc. now owns 16,416 shares of the company’s stock worth $169,000 after buying an additional 486 shares in the last quarter. Institutional investors and hedge funds own 98.56% 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.

5 Day Chart for NASDAQ:PLAB

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