Wall Street brokerages expect Photronics, Inc. (NASDAQ:PLAB) to post $137.20 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Photronics’ earnings, with the lowest sales estimate coming in at $137.00 million and the highest estimate coming in at $137.40 million. Photronics reported sales of $120.97 million during the same quarter last year, which indicates a positive year over year growth rate of 13.4%. The firm is expected to report its next earnings results on Wednesday, December 5th.

According to Zacks, analysts expect that Photronics will report full year sales of $527.80 million for the current fiscal year, with estimates ranging from $527.60 million to $528.00 million. For the next year, analysts expect that the company will post sales of $556.00 million per share, with estimates ranging from $552.00 million to $560.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Photronics.

Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. The business had revenue of $136.39 million during the quarter, compared to analyst estimates of $132.67 million. Photronics had a net margin of 6.83% and a return on equity of 3.65%. The business’s revenue was up 22.2% on a year-over-year basis. During the same period last year, the business earned $0.06 EPS.

PLAB has been the subject of a number of recent analyst reports. ValuEngine lowered shares of Photronics from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. BidaskClub raised shares of Photronics from a “hold” rating to a “buy” rating in a report on Tuesday, August 7th. Zacks Investment Research upgraded shares of Photronics from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Saturday, August 25th. Finally, TheStreet upgraded shares of Photronics from a “c+” rating to a “b-” rating in a research note on Tuesday, September 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $11.67.

In other Photronics news, VP Christopher J. Progler sold 3,000 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $10.60, for a total transaction of $31,800.00. Following the transaction, the vice president now directly owns 92,900 shares in the company, valued at approximately $984,740. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher J. Progler sold 5,300 shares of the stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $8.95, for a total transaction of $47,435.00. Following the transaction, the vice president now owns 92,400 shares in the company, valued at $826,980. The disclosure for this sale can be found here. Insiders have sold a total of 20,210 shares of company stock worth $187,408 over the last quarter. 3.73% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of PLAB. Wells Fargo & Company MN lifted its position in shares of Photronics by 13.3% in the 1st quarter. Wells Fargo & Company MN now owns 113,201 shares of the semiconductor company’s stock worth $933,000 after buying an additional 13,285 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Photronics in the 1st quarter worth about $138,000. Mackay Shields LLC bought a new position in shares of Photronics in the 1st quarter worth about $173,000. Swiss National Bank lifted its position in shares of Photronics by 6.8% in the 1st quarter. Swiss National Bank now owns 120,000 shares of the semiconductor company’s stock worth $990,000 after buying an additional 7,600 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Photronics by 9.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 621,632 shares of the semiconductor company’s stock worth $5,129,000 after buying an additional 54,423 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

PLAB opened at $9.90 on Monday. The firm has a market cap of $692.35 million, a P/E ratio of 20.20, a PEG ratio of 1.69 and a beta of 0.78. Photronics has a twelve month low of $7.20 and a twelve month high of $11.00.

Photronics declared that its board has approved a share buyback plan on Friday, July 6th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 3.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Photronics

Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.

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Earnings History and Estimates for Photronics (NASDAQ:PLAB)

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