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

Photronics (NASDAQ:PLAB) had its price objective boosted by DA Davidson from $32.00 to $35.00 in a research note published on Thursday,Benzinga reports. They currently have 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 report on Saturday, September 28th.

Photronics Trading Up 0.8 %

PLAB opened at $26.49 on Thursday. The stock has a market capitalization of $1.68 billion, a P/E ratio of 12.67 and a beta of 1.41. Photronics has a 12 month low of $20.25 and a 12 month high of $34.16. The firm’s fifty day simple moving average is $24.48 and its 200 day simple moving average is $24.54.

Photronics (NASDAQ:PLAB) last issued its quarterly 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. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The firm had revenue of $222.60 million for the quarter, compared to analysts’ expectations of $218.00 million. During the same period in the previous year, the firm posted $0.60 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities research analysts predict that Photronics will post 2.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Photronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC increased its stake in shares of Photronics by 155.2% during the 2nd quarter. CWM LLC now owns 3,294 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 2,003 shares during the last quarter. Summit Global Investments acquired a new position in shares of Photronics during the 2nd quarter worth about $572,000. SummerHaven Investment Management LLC increased its stake in shares of Photronics by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,145 shares of the semiconductor company’s stock worth $694,000 after purchasing an additional 563 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Photronics by 2.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the semiconductor company’s stock valued at $787,000 after buying an additional 900 shares during the last quarter. Finally, LVZ Inc. grew its stake in Photronics by 39.6% in the 2nd quarter. LVZ Inc. now owns 16,895 shares of the semiconductor company’s stock valued at $417,000 after buying an additional 4,792 shares during the last quarter. 88.38% of the stock is owned by institutional investors.

About Photronics

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.