Photronics, Inc. (NASDAQ:PLAB) Rating Increased to Hold at BidaskClub

Other institutional investors have also recently modified their holdings of the company. Zacks Investment Research cut Photronics from a "hold" rating to a "sell" rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. Photronics now has a consensus rating of "Hold" and an average target price of $12.83.

Shares of Photronics (NASDAQ:PLAB) traded down 0.52% during trading on Wednesday, reaching $9.50. The company had a trading volume of 707,216 shares. The company has a 50 day moving average of $9.84 and a 200 day moving average of $10.61. Photronics has a 12 month low of $8.20 and a 12 month high of $12.10.

The most current P/E ratio is 38.31 and the market cap is 654.28M.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Wednesday, May 17th. The semiconductor company reported $0.03 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.05 by $0.02. The firm had revenue of $108.30 million during the quarter, compared to the consensus estimate of $111.16 million. Photronics had a return on equity of 1.84% and a net margin of 3.81%. The firm's revenue was down 11.9% compared to the same quarter a year ago. During the same quarter in the previous year, the business earned $0.13 EPS. During the same quarter past year, the business posted $0.13 earnings per share.

COPYRIGHT VIOLATION NOTICE: "Photronics, Inc. (NASDAQ:PLAB) Rating Increased to Hold at BidaskClub" was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this piece on another domain, it was copied illegally and reposted in violation of USA and worldwide trademark & copyright law. The correct version of this piece can be viewed at https://www.baseball-news-blog.com/2017/08/12/photronics-inc-plab-raised-to-sell-at-bidaskclub-updated-updated-updated.html. The total value of its holdings decreased 10.1%. Following the completion of the transaction, the vice president now directly owns 78,900 shares in the company, valued at approximately $792,945. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Several institutional investors have recently bought and sold shares of PLAB. Virginia Retirement Systems ET AL purchased a new position in shares of Photronics during the first quarter valued at about $215,000. Princeton Alpha Management LP now owns 15,950 shares of the semiconductor company's stock valued at $171,000 after buying an additional 3,105 shares during the period. Sentinel Trust Co. LBA increased its position in shares of Photronics by 44.0% in the first quarter. Federated Investors Inc. PA now owns 10,991 shares of the semiconductor company's stock valued at $103,000 after buying an additional 4,203 shares during the period.

Dimensional Fund Advisors Lp reports that it bought 7,107 shares during the last quarter increasing its holdings in Photronics, Inc.by 0.1%. Principal Financial Group Inc. now owns 14,915 shares of the semiconductor company's stock worth $140,000 after buying an additional 720 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of Photronics during the first quarter valued at about $218,000. NY's holdings in Photronics were worth $477,000 at the end of the most recent quarter. Russell Investments Group Ltd. now owns 170,760 shares of the semiconductor company's stock valued at $1,827,000 after buying an additional 47,897 shares in the last quarter.

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