Photronics (NASDAQ:PLAB) Upgraded by Wall Street Zen to “Buy” Rating

by · The Cerbat Gem

Wall Street Zen upgraded shares of Photronics (NASDAQ:PLAB – Free Report) from a hold rating to a buy rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also weighed in on the stock. Zacks Research raised shares of Photronics to a “hold” rating in a research note on Friday, August 14th. Craig Hallum reissued a “buy” rating on shares of Photronics in a research note on Friday, May 29th. Freedom Capital upgraded shares of Photronics to a “strong-buy” rating in a report on Thursday, July 2nd. Finally, Weiss Ratings cut Photronics from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Photronics presently has an average rating of “Moderate Buy” and an average target price of $49.33.

Check Out Our Latest Report on Photronics

Photronics Stock Performance

PLAB opened at $28.99 on Friday. The stock has a market capitalization of $1.71 billion, a PE ratio of 10.21 and a beta of 1.35. The stock’s 50 day moving average price is $30.10 and its 200-day moving average price is $36.67. Photronics has a 52-week low of $20.05 and a 52-week high of $56.00.

Photronics (NASDAQ:PLAB – Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The company had revenue of $216.05 million during the quarter, compared to analyst estimates of $208.75 million. Photronics had a return on equity of 7.45% and a net margin of 19.05%.The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 earnings per share. Photronics has set its Q4 2026 guidance at 0.400-0.560 EPS. Research analysts forecast that Photronics will post 1.85 EPS for the current fiscal year.

Institutional Trading of Photronics

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP purchased a new position in Photronics during the 2nd quarter valued at about $26,000. First Horizon Corp bought a new position in shares of Photronics during the first quarter valued at approximately $33,000. Grove Bank & Trust bought a new position in shares of Photronics during the second quarter valued at approximately $33,000. Larson Financial Group LLC purchased a new position in shares of Photronics during the third quarter valued at approximately $28,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Photronics during the second quarter valued at approximately $40,000. 88.38% of the stock is owned by hedge funds and other institutional investors.

Photronics Company Profile

(Get Free Report)

Photronics, Inc (NASDAQ: PLAB) is a manufacturer of photomasks, precision photographic plates used in the semiconductor and flat-panel display manufacturing processes. Photomasks transfer circuit patterns onto silicon wafers and display substrates, making them an important component in the production of integrated circuits, memory devices, flat-panel displays and other electronic products.

The company provides photomasks for a range of semiconductor applications, including advanced logic, foundry and memory devices.

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