Photronics (NASDAQ:PLAB) Price Target Raised to $35.00 at DA Davidson

Photronics (NASDAQ:PLAB) had its price objective boosted by DA Davidson from $32.00 to $35.00 in a research report report published on Thursday,Benzinga reports. DA Davidson currently has a buy rating on the semiconductor company’s stock. DA Davidson also issued estimates for Photronics’ FY2025 earnings at $2.30 EPS.

Separately, StockNews.com raised shares of Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th.

Photronics Stock Down 6.4 %

Photronics stock opened at $26.27 on Thursday. Photronics has a 12 month low of $20.25 and a 12 month high of $34.16. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 12.57 and a beta of 1.41. The business has a 50 day moving average price of $24.40 and a two-hundred day moving average price of $24.55.

Photronics (NASDAQ:PLAB) last issued its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. The firm had revenue of $222.60 million during the quarter, compared to analysts’ expectations of $218.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. Photronics’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.60 earnings per share. On average, analysts expect that Photronics will post 2.2 earnings per share for the current fiscal year.

Institutional Trading of Photronics

Hedge funds have recently modified their holdings of the company. Arizona State Retirement System boosted its holdings in shares of Photronics by 3.1% in the 2nd quarter. Arizona State Retirement System now owns 17,735 shares of the semiconductor company’s stock worth $438,000 after acquiring an additional 530 shares in the last quarter. SummerHaven Investment Management LLC raised its position in Photronics by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 28,145 shares of the semiconductor company’s stock valued at $694,000 after purchasing an additional 563 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Photronics by 65.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 567 shares in the last quarter. US Bancorp DE grew its holdings in shares of Photronics by 137.2% during the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 701 shares during the last quarter. Finally, Koss Olinger Consulting LLC increased its stake in shares of Photronics by 4.3% in the third quarter. Koss Olinger Consulting LLC now owns 18,714 shares of the semiconductor company’s stock valued at $463,000 after buying an additional 780 shares in the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.

Photronics Company Profile

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. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates.