Brokerages Anticipate Photronics, Inc. (PLAB) to Post $0.07 Earnings Per Share

Equities analysts expect Photronics, Inc. (NASDAQ:PLAB) to report earnings per share of $0.07 for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Photronics’ earnings, with the lowest EPS estimate coming in at $0.06 and the highest estimate coming in at $0.07. Photronics posted earnings per share of $0.15 during the same quarter last year, which would indicate a negative year over year growth rate of 53.3%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, May 28th.

According to Zacks, analysts expect that Photronics will report full-year earnings of $0.40 per share for the current year. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.85 per share. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Photronics.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Thursday, February 21st. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.03. Photronics had a net margin of 7.72% and a return on equity of 4.32%. The firm had revenue of $124.71 million for the quarter, compared to the consensus estimate of $125.10 million. During the same period last year, the firm earned $0.09 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis.

A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Photronics from a “hold” rating to a “sell” rating in a research report on Tuesday, February 12th. TheStreet cut shares of Photronics from a “b-” rating to a “c” rating in a research report on Friday, February 22nd. BidaskClub cut shares of Photronics from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Finally, ValuEngine cut shares of Photronics from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $11.00.

NASDAQ:PLAB opened at $9.31 on Friday. Photronics has a 52 week low of $7.60 and a 52 week high of $11.58. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 2.19. The company has a market cap of $609.50 million, a P/E ratio of 16.05, a PEG ratio of 2.27 and a beta of 0.53.

In related news, insider Kang Jyh Lee sold 5,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $10.14, for a total transaction of $50,700.00. Following the completion of the sale, the insider now owns 118,175 shares of the company’s stock, valued at $1,198,294.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher J. Progler sold 5,600 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $9.48, for a total transaction of $53,088.00. Following the sale, the vice president now directly owns 118,025 shares of the company’s stock, valued at approximately $1,118,877. The disclosure for this sale can be found here. Insiders have sold 29,000 shares of company stock valued at $291,127 in the last three months. 3.58% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of PLAB. KAMES CAPITAL plc purchased a new stake in Photronics during the first quarter valued at approximately $11,013,000. Divisar Capital Management LLC lifted its holdings in shares of Photronics by 92.4% during the 4th quarter. Divisar Capital Management LLC now owns 903,279 shares of the semiconductor company’s stock valued at $8,744,000 after buying an additional 433,711 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Photronics by 3.1% during the 3rd quarter. BlackRock Inc. now owns 9,955,523 shares of the semiconductor company’s stock valued at $98,062,000 after buying an additional 299,068 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in shares of Photronics during the 4th quarter valued at about $26,000. Finally, Alambic Investment Management L.P. lifted its holdings in shares of Photronics by 236.9% during the 4th quarter. Alambic Investment Management L.P. now owns 192,609 shares of the semiconductor company’s stock valued at $1,864,000 after buying an additional 135,431 shares during the last quarter. 95.39% of the stock is owned by institutional investors.

Photronics Company Profile

Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz or glass plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.

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