Photronics, Inc. (NASDAQ:PLAB) reached a new 52-week low during trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $8.03 and last traded at $8.05, with a volume of 1,665,305 shares. The stock had previously closed at $9.85.

The semiconductor company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by $0.03. Photronics had a net margin of 3.81% and a return on equity of 1.84%. The business had revenue of $111.60 million for the quarter, compared to analyst estimates of $115.14 million. During the same quarter last year, the business earned $0.12 EPS.

Several research analysts have recently commented on PLAB shares. Zacks Investment Research lowered Photronics from a “hold” rating to a “sell” rating in a research report on Friday, May 19th. BidaskClub upgraded Photronics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, ValuEngine upgraded Photronics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $12.83.

In other Photronics news, VP Christopher J. Progler sold 4,000 shares of Photronics stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $10.05, for a total transaction of $40,200.00. Following the sale, the vice president now owns 78,900 shares of the company’s stock, valued at approximately $792,945. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.71% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Federated Investors Inc. PA increased its stake in shares of Photronics by 61.9% in the second quarter. Federated Investors Inc. PA now owns 10,991 shares of the semiconductor company’s stock valued at $103,000 after buying an additional 4,203 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Photronics by 78.4% in the second quarter. BNP Paribas Arbitrage SA now owns 13,302 shares of the semiconductor company’s stock valued at $125,000 after buying an additional 5,844 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Photronics during the second quarter valued at $131,000. Airain ltd acquired a new stake in shares of Photronics during the second quarter valued at $137,000. Finally, Principal Financial Group Inc. increased its stake in shares of Photronics by 5.1% in the second quarter. Principal Financial Group Inc. now owns 14,915 shares of the semiconductor company’s stock valued at $140,000 after buying an additional 720 shares during the last quarter.

The firm’s 50 day moving average is $9.85 and its 200 day moving average is $10.58. The firm has a market cap of $552.70 million, a PE ratio of 32.359 and a beta of 0.48.

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Photronics Company Profile

Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. As of October 30, 2016, the Company operated principally from nine manufacturing facilities: two located in Europe, three in Taiwan, one in Korea and three in the United States.

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