Photronics (NASDAQ:PLAB) Issues Q4 2022 Earnings Guidance

Photronics (NASDAQ:PLABGet Rating) issued an update on its fourth quarter 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.44-$0.52 for the period, compared to the consensus EPS estimate of $0.53. The company issued revenue guidance of $205.00 million-$215.00 million, compared to the consensus revenue estimate of $214.53 million.

Photronics Trading Down 3.4 %

PLAB traded down $0.51 during trading hours on Friday, reaching $14.49. The company’s stock had a trading volume of 11,964 shares, compared to its average volume of 1,728,068. Photronics has a fifty-two week low of $12.18 and a fifty-two week high of $25.81. The stock has a market cap of $893.89 million, a PE ratio of 8.54 and a beta of 1.11. The business’s 50-day moving average is $20.42 and its 200-day moving average is $18.59. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.44 and a quick ratio of 3.18.

Photronics (NASDAQ:PLABGet Rating) last released its quarterly earnings data on Tuesday, August 30th. The semiconductor company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Photronics had a return on equity of 9.97% and a net margin of 13.07%. The firm had revenue of $219.90 million for the quarter, compared to analysts’ expectations of $210.00 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The firm’s quarterly revenue was up 28.9% on a year-over-year basis. As a group, equities research analysts predict that Photronics will post 1.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on PLAB shares. Northland Securities upped their price target on Photronics from $25.00 to $26.00 and gave the stock an outperform rating in a research note on Thursday, May 26th. DA Davidson decreased their price target on Photronics from $30.00 to $28.00 and set a buy rating on the stock in a research note on Wednesday, August 31st. Finally, StockNews.com upgraded Photronics from a buy rating to a strong-buy rating in a research note on Tuesday, September 13th.

Insider Activity

In other news, Director Mitchell G. Tyson sold 2,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $23.54, for a total value of $47,080.00. Following the sale, the director now directly owns 66,379 shares in the company, valued at $1,562,561.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Photronics

Several large investors have recently bought and sold shares of the business. Captrust Financial Advisors grew its holdings in shares of Photronics by 61.6% during the second quarter. Captrust Financial Advisors now owns 15,784 shares of the semiconductor company’s stock worth $307,000 after purchasing an additional 6,019 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Photronics by 1.2% during the second quarter. Legal & General Group Plc now owns 151,361 shares of the semiconductor company’s stock worth $2,949,000 after purchasing an additional 1,859 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Photronics during the second quarter worth about $575,000. Centiva Capital LP purchased a new position in shares of Photronics during the second quarter worth about $346,000. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Photronics by 20.9% during the second quarter. Thrivent Financial for Lutherans now owns 60,646 shares of the semiconductor company’s stock worth $1,181,000 after purchasing an additional 10,468 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Photronics Company Profile

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Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, Korea, Europe, China, and internationally. The company offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, FDP substrates, and other types of electrical and optical components.

Further Reading

Earnings History and Estimates for Photronics (NASDAQ:PLAB)

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