Stifel Nicolaus lowered shares of Photronics Inc. (NASDAQ:PLAB) from a buy rating to a hold rating in a research note issued to investors on Friday.

Several other research firms have also issued reports on PLAB. SunTrust Banks Inc. set a $12.00 price target on Photronics and gave the stock a buy rating in a research report on Tuesday, October 4th. Zacks Investment Research upgraded Photronics from a sell rating to a hold rating in a research report on Tuesday, September 13th. Finally, DA Davidson restated a buy rating and set a $15.00 price target on shares of Photronics in a research report on Monday, August 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $13.00.

Photronics (NASDAQ:PLAB) opened at 10.00 on Friday. The stock’s 50 day moving average price is $10.16 and its 200-day moving average price is $9.73. The firm has a market capitalization of $681.86 million, a price-to-earnings 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.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Thursday, August 18th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the 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 company had revenue of $123.20 million for the quarter, compared to the consensus estimate of $123.54 million. During the same quarter in the previous year, the business earned $0.17 earnings per share. Photronics’s revenue was down 6.5% compared to the same quarter last year. Equities analysts anticipate that Photronics will post $0.55 EPS for the current fiscal year.

In other news, Director Joseph A. Fiorita, Jr. sold 12,000 shares of Photronics stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $10.00, for a total value of $120,000.00. Following the sale, the director now directly owns 161,100 shares in the company, valued at approximately $1,611,000. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Walter M. Fiederowicz sold 21,250 shares of Photronics stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $9.95, for a total value of $211,437.50. Following the completion of the sale, the director now owns 42,250 shares in the company, valued at $420,387.50. The disclosure for this sale can be found here. 4.12% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. National Asset Management Inc. raised 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 acquired a new stake in shares of Photronics during the second quarter worth $110,000. Teacher Retirement System of Texas raised 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 raised 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. Finally, Icon Advisers Inc. Co. acquired a new stake in shares of Photronics during the second quarter worth $150,000. Hedge funds and other institutional investors own 98.56% of the company’s stock.

About Photronics

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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