DA Davidson Weighs in on Photronics, Inc.’s Q4 2018 Earnings (PLAB)

Photronics, Inc. (NASDAQ:PLAB) – Analysts at DA Davidson cut their Q4 2018 earnings estimates for Photronics in a note issued to investors on Wednesday. DA Davidson analyst T. Diffely now expects that the semiconductor company will post earnings of $0.19 per share for the quarter, down from their previous forecast of $0.21. DA Davidson currently has a “Buy” rating and a $13.00 price objective on the stock.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $121.00 million during the quarter, compared to analyst estimates of $112.17 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year.

PLAB has been the subject of several other research reports. Zacks Investment Research raised shares of Photronics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. BidaskClub lowered shares of Photronics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th.

Photronics (NASDAQ:PLAB) traded down $0.15 during trading on Monday, hitting $9.50. 788,000 shares of the stock traded hands, compared to its average volume of 574,356. Photronics has a 52 week low of $7.55 and a 52 week high of $12.10. The firm has a market capitalization of $654.92, a price-to-earnings ratio of 47.50, a P/E/G ratio of 2.38 and a beta of 0.53. The company has a quick ratio of 5.20, a current ratio of 5.49 and a debt-to-equity ratio of 0.07.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its holdings in Photronics by 1,665.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,766,054 shares of the semiconductor company’s stock worth $16,601,000 after acquiring an additional 1,666,037 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Photronics by 35.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 231,428 shares of the semiconductor company’s stock worth $2,176,000 after acquiring an additional 60,668 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Photronics by 2,734.1% during the 2nd quarter. D.A. Davidson & CO. now owns 403,860 shares of the semiconductor company’s stock worth $3,796,000 after acquiring an additional 389,610 shares in the last quarter. Palouse Capital Management Inc. grew its holdings in Photronics by 118.1% during the 3rd quarter. Palouse Capital Management Inc. now owns 33,458 shares of the semiconductor company’s stock worth $296,000 after acquiring an additional 18,115 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Photronics during the 3rd quarter worth $1,191,000. 94.71% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Sean T. Smith sold 25,000 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $9.19, for a total transaction of $229,750.00. Following the completion of the sale, the senior vice president now directly owns 165,358 shares of the company’s stock, valued at approximately $1,519,640.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Christopher J. Progler sold 4,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $8.85, for a total transaction of $35,400.00. The disclosure for this sale can be found here. Insiders sold 69,500 shares of company stock valued at $642,213 in the last three months. Company insiders own 3.71% of the company’s stock.

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Photronics Company Profile

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.

Earnings History and Estimates for Photronics (NASDAQ:PLAB)

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