Photronics, Inc. (NASDAQ:PLAB) shares were up 5.3% during mid-day trading on Monday . The company traded as high as $7.90 and last traded at $7.90. Approximately 964,234 shares traded hands during mid-day trading, an increase of 70% from the average daily volume of 566,443 shares. The stock had previously closed at $7.50.

A number of research analysts have issued reports on PLAB shares. Zacks Investment Research raised shares of Photronics from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. BidaskClub cut shares of Photronics from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 30th. DA Davidson reaffirmed a “buy” rating and issued a $13.00 price target on shares of Photronics in a report on Monday, November 27th. Finally, ValuEngine cut shares of Photronics from a “hold” rating to a “sell” rating in a report on Friday, February 2nd.

The stock has a market capitalization of $545.52, a price-to-earnings ratio of 39.00, a PEG ratio of 1.98 and a beta of 0.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.49 and a quick ratio of 5.20.

Photronics (NASDAQ:PLAB) last issued its earnings results on Wednesday, November 29th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Photronics had a net margin of 2.91% and a return on equity of 1.55%. The firm had revenue of $121.00 million during the quarter, compared to analysts’ expectations of $112.17 million. During the same quarter last year, the company posted $0.05 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. research analysts anticipate that Photronics, Inc. will post 0.4 EPS for the current year.

In related news, SVP Sean T. Smith sold 12,500 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $9.43, for a total transaction of $117,875.00. Following the completion of the transaction, the senior vice president now owns 152,858 shares of the company’s stock, valued at $1,441,450.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Richelle E. Burr sold 4,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $9.00, for a total transaction of $36,000.00. Following the transaction, the vice president now directly owns 41,109 shares of the company’s stock, valued at approximately $369,981. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,040 shares of company stock valued at $452,165. 3.71% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System raised its holdings in shares of Photronics by 3.3% during the third quarter. California Public Employees Retirement System now owns 744,108 shares of the semiconductor company’s stock worth $6,585,000 after purchasing an additional 23,908 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Photronics during the third quarter valued at $1,191,000. Citadel Advisors LLC grew its position in Photronics by 284.7% during the third quarter. Citadel Advisors LLC now owns 500,173 shares of the semiconductor company’s stock valued at $4,427,000 after buying an additional 370,149 shares during the period. Bank of New York Mellon Corp grew its position in Photronics by 10.2% during the third quarter. Bank of New York Mellon Corp now owns 2,190,402 shares of the semiconductor company’s stock valued at $19,386,000 after buying an additional 203,240 shares during the period. Finally, Palouse Capital Management Inc. grew its position in Photronics by 118.1% during the third quarter. Palouse Capital Management Inc. now owns 33,458 shares of the semiconductor company’s stock valued at $296,000 after buying an additional 18,115 shares during the period. 94.39% of the stock is owned by hedge funds and other institutional investors.

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About Photronics

Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. As of October 30, 2016, the Company operated principally from nine manufacturing facilities: two located in Europe, three in Taiwan, one in Korea and three in the United States.

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