Photronics, Inc. (NASDAQ:PLAB – Free Report) – Analysts at DA Davidson reduced their FY2023 earnings per share (EPS) estimates for shares of Photronics in a research report issued to clients and investors on Thursday, September 7th. DA Davidson analyst T. Diffely now anticipates that the semiconductor company will earn $1.97 per share for the year, down from their prior forecast of $2.00. The consensus estimate for Photronics’ current full-year earnings is $2.00 per share.
Photronics (NASDAQ:PLAB – Get Free Report) last posted its quarterly earnings results on Wednesday, September 6th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $224.20 million for the quarter, compared to the consensus estimate of $230.00 million. Photronics had a return on equity of 10.72% and a net margin of 13.48%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share.
View Our Latest Stock Analysis on Photronics
Photronics Trading Down 3.0 %
Shares of NASDAQ:PLAB opened at $20.00 on Monday. Photronics has a 52-week low of $13.86 and a 52-week high of $26.98. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.59 and a current ratio of 4.05. The company has a market capitalization of $1.25 billion, a P/E ratio of 10.42 and a beta of 1.18. The company has a 50-day simple moving average of $24.51 and a 200 day simple moving average of $20.36.
Institutional Investors Weigh In On Photronics
A number of institutional investors have recently made changes to their positions in PLAB. Toronto Dominion Bank bought a new position in Photronics during the 1st quarter worth $83,000. Point72 Hong Kong Ltd grew its position in shares of Photronics by 57.1% during the 4th quarter. Point72 Hong Kong Ltd now owns 19,600 shares of the semiconductor company’s stock worth $330,000 after purchasing an additional 7,120 shares in the last quarter. Inspire Investing LLC increased its holdings in shares of Photronics by 5.5% during the first quarter. Inspire Investing LLC now owns 30,723 shares of the semiconductor company’s stock worth $509,000 after purchasing an additional 1,609 shares during the period. ETF Managers Group LLC acquired a new stake in shares of Photronics in the fourth quarter valued at approximately $205,000. Finally, LSV Asset Management boosted its stake in shares of Photronics by 19.9% in the first quarter. LSV Asset Management now owns 430,300 shares of the semiconductor company’s stock valued at $7,134,000 after buying an additional 71,500 shares during the period. Institutional investors own 83.44% of the company’s stock.
About Photronics
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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