Photronics (NASDAQ:PLAB) PT Raised to $21.00 at Northland Securities

Photronics (NASDAQ:PLAB – Get Rating) had its price target boosted by Northland Securities from $18.00 to $21.00 in a research report sent to investors on Thursday morning, The Fly reports.

A number of other analysts have also recently weighed in on PLAB. DA Davidson restated a buy rating on shares of Photronics in a research note on Tuesday, April 11th. StockNews.com started coverage on shares of Photronics in a report on Thursday, May 18th. They issued a buy rating on the stock.

Photronics Stock Performance

PLAB stock opened at $20.25 on Thursday. The company has a quick ratio of 3.25, a current ratio of 3.89 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 10.18 and a beta of 1.18. Photronics has a 12 month low of $13.86 and a 12 month high of $25.81. The firm has a 50 day moving average of $15.81 and a two-hundred day moving average of $17.16.

Photronics (NASDAQ:PLAB – Get Rating) last posted its earnings results on Wednesday, May 24th. The semiconductor company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.44 by $0.10. The company had revenue of $229.30 million during the quarter, compared to the consensus estimate of $211.00 million. Photronics had a net margin of 14.04% and a return on equity of 11.09%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 earnings per share. As a group, equities analysts anticipate that Photronics will post 1.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Photronics

Institutional investors and hedge funds have recently bought and sold shares of the business. M&T Bank Corp bought a new stake in shares of Photronics in the 4th quarter worth about $49,259,000. Prudential Financial Inc. grew its holdings in shares of Photronics by 48.4% in the 3rd quarter. Prudential Financial Inc. now owns 1,473,074 shares of the semiconductor company’s stock worth $21,536,000 after purchasing an additional 480,125 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Photronics in the 4th quarter worth about $7,652,000. Marshall Wace LLP grew its holdings in shares of Photronics by 116.0% in the 4th quarter. Marshall Wace LLP now owns 756,081 shares of the semiconductor company’s stock worth $12,725,000 after purchasing an additional 406,071 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Photronics by 74.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 860,890 shares of the semiconductor company’s stock worth $14,274,000 after purchasing an additional 366,875 shares during the last quarter. Institutional investors own 90.41% of the company’s stock.

Photronics Company Profile

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Photronics, Inc engages in the provision of photomasks. It manufactures semiconductors and flat-panel displays and is used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during the fabrication of integrated circuits, a variety of FPDs and other types of electrical and optical components.