Equities research analysts predict that Photronics, Inc. (NASDAQ:PLAB) will post $137.20 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Photronics’ earnings, with estimates ranging from $137.00 million to $137.40 million. Photronics posted sales of $120.97 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.4%. The business is expected to issue its next earnings results on Wednesday, December 5th.
According to Zacks, analysts expect that Photronics will report full-year sales of $527.80 million for the current financial year, with estimates ranging from $527.60 million to $528.00 million. For the next fiscal year, analysts expect that the business will post sales of $556.00 million per share, with estimates ranging from $552.00 million to $560.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Photronics.
Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. Photronics had a net margin of 6.83% and a return on equity of 3.65%. The company had revenue of $136.39 million for the quarter, compared to the consensus estimate of $132.67 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year.
In other news, Director Mitchell G. Tyson sold 4,790 shares of the business’s stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $9.17, for a total value of $43,924.30. Following the completion of the transaction, the director now owns 77,879 shares of the company’s stock, valued at $714,150.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Christopher J. Progler sold 5,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $8.95, for a total transaction of $47,435.00. Following the completion of the transaction, the vice president now directly owns 92,400 shares of the company’s stock, valued at approximately $826,980. The disclosure for this sale can be found here. In the last three months, insiders sold 20,210 shares of company stock valued at $187,408. Company insiders own 3.73% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. OppenheimerFunds Inc. increased its position in Photronics by 19.0% during the second quarter. OppenheimerFunds Inc. now owns 36,100 shares of the semiconductor company’s stock worth $288,000 after purchasing an additional 5,776 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Photronics by 38.1% during the second quarter. Metropolitan Life Insurance Co. NY now owns 26,501 shares of the semiconductor company’s stock worth $211,000 after purchasing an additional 7,307 shares during the last quarter. Swiss National Bank increased its position in Photronics by 6.8% during the first quarter. Swiss National Bank now owns 120,000 shares of the semiconductor company’s stock worth $990,000 after purchasing an additional 7,600 shares during the last quarter. SG Americas Securities LLC increased its position in Photronics by 46.2% during the second quarter. SG Americas Securities LLC now owns 24,430 shares of the semiconductor company’s stock worth $195,000 after purchasing an additional 7,720 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Photronics by 7.1% during the second quarter. Legal & General Group Plc now owns 138,111 shares of the semiconductor company’s stock worth $1,091,000 after purchasing an additional 9,149 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ PLAB opened at $9.90 on Monday. Photronics has a 12-month low of $7.20 and a 12-month high of $11.00. The stock has a market capitalization of $692.35 million, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.69 and a beta of 0.78.
Photronics declared that its board has authorized a share repurchase plan on Friday, July 6th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the semiconductor company to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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 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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