Photronics (PLAB) was Reiterated by Needham to “Buy” while Lowering the Price Target of the company shares to $ 12 from a previous price target of $13 . Needham advised their investors in a research report released on May 19, 2016.
On the company’s financial health, Photronics reported $0.13 EPS for the quarter, based on the information available during the earnings call on May 18, 2016. Analyst had a consensus estimate of $0.13. The company had revenue of $122.90 million for the quarter, compared to analysts expectations of $125.54 million. The company’s revenue was down -3.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.12 EPS.
Photronics opened for trading at $9.94 and hit $10.12 on the upside on Monday, eventually ending the session at $9.99, with a gain of 0.20% or 0.02 points. The heightened volatility saw the trading volume jump to 4,51,107 shares. Company has a market cap of $672 M.
In a different news, on Apr 29, 2016, Mitchell G Tyson (director) sold 1,200 shares at $11.00 per share price. According to the SEC, on Mar 30, 2016, Walter M Fiederowicz (director) sold 3,000 shares at $10.39 per share price. On Jan 22, 2016, Peter S Kirlin (Chief Executive Officer) sold 7,687 shares at $11.56 per share price, according to the Form-4 filing with the securities and exchange commission.
Photronics Inc. (Photronics) is a manufacturer of photo masks. The Company offers services across the full spectrum of integrated chip (IC) production and flat panel display (FPD) technologies by manufacturing photomasks using electron beam or optical (laser-based) systems. The Company operates from nine manufacturing facilities; two of which are located in Europe two in Taiwan one in Korea and three in the United States. The Company primarily sells its products to leading semiconductor and FPD manufacturers. In addition to the sales personnel at the Company’s manufacturing facilities the Company has sales offices in the United States Europe and Asia. The Company supports international customers through both its domestic and international facilities.