DA Davidson Issues Negative Forecast for Photronics Earnings

Photronics, Inc. (NASDAQ:PLAB - Free Report) - DA Davidson cut their FY2025 earnings estimates for Photronics in a research report issued on Thursday, February 27th. DA Davidson analyst T. Diffely now forecasts that the semiconductor company will post earnings of $2.00 per share for the year, down from their prior forecast of $2.30. DA Davidson has a "Buy" rating and a $35.00 price objective on the stock. The consensus estimate for Photronics' current full-year earnings is $2.30 per share.

Photronics (NASDAQ:PLAB - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.05. The business had revenue of $212.14 million for the quarter, compared to the consensus estimate of $210.00 million. Photronics had a net margin of 15.07% and a return on equity of 9.10%. During the same quarter last year, the firm earned $0.48 EPS.

Photronics Stock Up 0.6 %

Shares of NASDAQ:PLAB traded up $0.12 on Monday, reaching $21.03. The company had a trading volume of 835,637 shares, compared to its average volume of 447,939. The stock has a market capitalization of $1.34 billion, a P/E ratio of 10.06 and a beta of 1.37. The stock has a 50-day moving average price of $22.82 and a 200 day moving average price of $23.76. Photronics has a twelve month low of $19.61 and a twelve month high of $31.60.

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Institutional Investors Weigh In On Photronics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Photronics in the 4th quarter worth $7,787,000. LSV Asset Management lifted its stake in shares of Photronics by 13.8% in the fourth quarter. LSV Asset Management now owns 2,120,319 shares of the semiconductor company's stock valued at $49,955,000 after buying an additional 257,373 shares during the period. Boston Partners grew its position in Photronics by 45.3% during the fourth quarter. Boston Partners now owns 799,439 shares of the semiconductor company's stock worth $18,893,000 after buying an additional 249,222 shares in the last quarter. Kestrel Investment Management Corp bought a new position in Photronics during the fourth quarter valued at about $5,163,000. Finally, JPMorgan Chase & Co. increased its stake in Photronics by 118.8% during the fourth quarter. JPMorgan Chase & Co. now owns 367,346 shares of the semiconductor company's stock valued at $8,655,000 after acquiring an additional 199,490 shares during the period. Institutional investors and hedge funds own 88.38% of the company's stock.

Insider Activity at Photronics

In other Photronics news, EVP Christopher J. Progler sold 63,000 shares of the firm's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $24.85, for a total value of $1,565,550.00. Following the sale, the executive vice president now owns 219,166 shares of the company's stock, valued at $5,446,275.10. This trade represents a 22.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kang Jyh Lee sold 20,000 shares of Photronics stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $25.27, for a total value of $505,400.00. Following the completion of the transaction, the chief executive officer now directly owns 524,600 shares in the company, valued at approximately $13,256,642. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 199,000 shares of company stock valued at $4,878,810. Corporate insiders own 3.20% of the company's stock.

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.