DA Davidson Brokers Cut Earnings Estimates for Photronics

Photronics, Inc. (NASDAQ:PLAB) – Analysts at DA Davidson cut their FY2025 earnings per share estimates for Photronics in a research note 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 estimate 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 Price Performance

Shares of NASDAQ PLAB opened at $20.16 on Monday. Photronics has a 1-year low of $19.61 and a 1-year high of $31.60. The business has a 50-day moving average of $22.95 and a 200-day moving average of $23.80. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 9.65 and a beta of 1.37.

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

Insider Transactions at Photronics

In related news, CEO Kang Jyh Lee sold 20,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $25.27, for a total value of $505,400.00. Following the transaction, the chief executive officer now owns 524,600 shares in the company, valued at approximately $13,256,642. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Walter M. Fiederowicz sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $24.01, for a total value of $240,100.00. Following the sale, the director now owns 50,000 shares in the company, valued at $1,200,500. The trade was a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 199,000 shares of company stock valued at $4,878,810 over the last quarter. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Photronics

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in Photronics during the fourth quarter valued at $7,787,000. LSV Asset Management increased 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 worth $49,955,000 after purchasing an additional 257,373 shares during the period. Boston Partners increased its stake in Photronics by 45.3% during the fourth quarter. Boston Partners now owns 799,439 shares of the semiconductor company’s stock valued at $18,893,000 after acquiring an additional 249,222 shares during the period. 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.

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.