Photronics (NASDAQ:PLAB) Issues Q3 2022 Earnings Guidance

Photronics (NASDAQ:PLABGet Rating) issued an update on its third quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.45-$0.55 for the period, compared to the consensus earnings per share estimate of $0.37. The company issued revenue guidance of $205.00 million-$215.00 million, compared to the consensus revenue estimate of $196.40 million.Photronics also updated its Q3 guidance to $0.45-0.55 EPS.

A number of research analysts recently issued reports on PLAB shares. Zacks Investment Research lowered shares of Photronics from a strong-buy rating to a hold rating in a research note on Wednesday, April 27th. Northland Securities increased their price target on shares of Photronics from $25.00 to $26.00 and gave the company an outperform rating in a report on Thursday. Stifel Nicolaus lifted their target price on Photronics from $21.00 to $23.00 in a research report on Wednesday. DA Davidson upped their price target on Photronics from $26.00 to $30.00 and gave the company a buy rating in a report on Thursday. Finally, StockNews.com assumed coverage on Photronics in a report on Thursday, March 31st. They set a strong-buy rating on the stock. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $25.00.

Shares of PLAB traded up $2.42 on Thursday, hitting $20.28. The company’s stock had a trading volume of 108,780 shares, compared to its average volume of 598,801. The company has a market capitalization of $1.25 billion, a PE ratio of 17.46 and a beta of 0.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.13 and a quick ratio of 2.80. Photronics has a fifty-two week low of $11.65 and a fifty-two week high of $20.30. The company has a 50 day moving average price of $15.97 and a 200 day moving average price of $16.70.

Photronics (NASDAQ:PLABGet Rating) last issued its quarterly earnings data on Wednesday, May 25th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.14. The firm had revenue of $204.50 million during the quarter, compared to the consensus estimate of $192.37 million. Photronics had a return on equity of 6.66% and a net margin of 10.05%. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. On average, equities analysts forecast that Photronics will post 1.49 EPS for the current year.

In other Photronics news, EVP Christopher J. Progler sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $17.96, for a total value of $179,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mitchell G. Tyson sold 2,000 shares of Photronics stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $18.39, for a total transaction of $36,780.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,481 shares of company stock worth $470,276. Company insiders own 3.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. boosted its position in shares of Photronics by 77.5% during the first quarter. Federated Hermes Inc. now owns 2,798 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 1,222 shares in the last quarter. 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. Captrust Financial Advisors lifted its stake in Photronics by 16.0% in the first quarter. Captrust Financial Advisors now owns 9,765 shares of the semiconductor company’s stock valued at $166,000 after buying an additional 1,348 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Photronics by 587.5% in the first quarter. Covestor Ltd now owns 2,427 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 2,074 shares during the period. Finally, Credit Suisse AG increased its position in shares of Photronics by 6.1% during the fourth quarter. Credit Suisse AG now owns 48,779 shares of the semiconductor company’s stock worth $920,000 after acquiring an additional 2,788 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

About Photronics (Get Rating)

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.

See Also

Receive News & Ratings for Photronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Photronics and related companies with MarketBeat.com's FREE daily email newsletter.