Photronics (NASDAQ:PLAB) Releases Q1 Earnings Guidance
Photronics (NASDAQ:PLAB – Get Free Report) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.45-0.53 for the period, compared to the consensus estimate of $0.49. The company issued revenue guidance of $217-225 million, compared to the consensus revenue estimate of $220.00 million.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on shares of Photronics in a report on Thursday, October 5th. They issued a buy rating on the stock.
Read Our Latest Stock Analysis on Photronics
Photronics Stock Performance
Shares of PLAB stock opened at $21.63 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.76 and a current ratio of 4.05. The company has a market capitalization of $1.35 billion, a P/E ratio of 11.27 and a beta of 1.27. The company’s 50 day moving average price is $20.36 and its two-hundred day moving average price is $22.25. Photronics has a 52 week low of $13.86 and a 52 week high of $26.98.
Institutional Trading of Photronics
Several hedge funds have recently bought and sold shares of PLAB. Raymond James & Associates acquired a new stake in Photronics during the 1st quarter worth approximately $219,000. Citigroup Inc. raised its holdings in Photronics by 2.1% during the 1st quarter. Citigroup Inc. now owns 61,988 shares of the semiconductor company’s stock worth $1,052,000 after buying an additional 1,281 shares during the period. MetLife Investment Management LLC raised its holdings in Photronics by 53.6% during the 1st quarter. MetLife Investment Management LLC now owns 32,418 shares of the semiconductor company’s stock worth $550,000 after buying an additional 11,313 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Photronics by 15.0% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 53,138 shares of the semiconductor company’s stock worth $902,000 after acquiring an additional 6,920 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Photronics by 0.8% during the 1st quarter. BlackRock Inc. now owns 9,805,463 shares of the semiconductor company’s stock worth $166,400,000 after acquiring an additional 78,778 shares in the last quarter. 83.44% of the stock is currently owned by institutional investors and hedge funds.
About Photronics (Get Free Report)
Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, 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 various types of electrical and optical components.
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Original: MarketBeat News Feed: Photronics (NASDAQ:PLAB) Releases Q1 Earnings Guidance