Photronics (NASDAQ:PLAB) Shares Cross Above Fifty Day Moving Average - What's Next?

Key Points

• Photronics shares moved above their 50-day moving average, trading as high as $29.19 and last at $28.92; the 50-day average is $28.89, versus a 200-day average of $35.07.
• The company reported quarterly EPS of $0.50, beating the $0.40 consensus, and revenue of $216.05 million, above estimates and up 2.7% year over year.
• Analysts give Photronics a consensus “Moderate Buy” rating and a $49.33 average price target, while insiders sold 37,000 shares worth about $1.11 million over the last quarter.

Photronics, Inc. (NASDAQ:PLAB - Get Free Report)'s share price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $28.89 and traded as high as $29.19. Photronics shares last traded at $28.92, with a volume of 889,417 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Weiss Ratings lowered Photronics from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, November 4th. Wall Street Zen upgraded Photronics from a "hold" rating to a "buy" rating in a research report on Saturday, October 17th. Finally, Zacks Research raised Photronics to a "hold" rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.33.

Photronics Price Performance

The stock has a market cap of $1.71 billion, a PE ratio of 10.18 and a beta of 1.42. The stock's fifty day moving average is $28.89 and its 200-day moving average is $35.07.

Photronics (NASDAQ:PLAB - Get Free Report) last issued its earnings results on Wednesday, August 26th. The semiconductor company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.10. Photronics had a net margin of 19.05% and a return on equity of 7.45%. The company had revenue of $216.05 million for the quarter, compared to the consensus estimate of $208.75 million. During the same period in the previous year, the firm earned $0.51 earnings per share. Photronics's quarterly revenue was up 2.7% compared to the same quarter last year. Photronics has set its Q4 2026 guidance at 0.400-0.560 EPS. On average, sell-side analysts expect that Photronics, Inc. will post 1.90 EPS for the current fiscal year.

Insider Buying and Selling

In other Photronics news, SVP Han Park sold 9,500 shares of the firm's stock in a transaction on Friday, September 25th. The stock was sold at an average price of $30.37, for a total transaction of $288,515.00. Following the completion of the sale, the senior vice president owned 66,000 shares of the company's stock, valued at $2,004,420. This trade represents a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kang Lee sold 10,000 shares of Photronics stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $29.70, for a total value of $297,000.00. Following the completion of the sale, the director owned 354,850 shares in the company, valued at $10,539,045. This represents a 2.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 37,000 shares of company stock worth $1,114,265 over the last quarter. 3.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Photronics

Hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Photronics in the 2nd quarter valued at about $308,586,000. Janus Henderson Group PLC lifted its position in Photronics by 32.5% in the first quarter. Janus Henderson Group PLC now owns 823,488 shares of the semiconductor company's stock valued at $33,289,000 after buying an additional 202,040 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Photronics in the second quarter valued at about $12,374,000. Heartland Advisors Inc. purchased a new position in Photronics during the second quarter worth about $12,355,000. Finally, Royce & Associates LP boosted its stake in Photronics by 0.3% during the third quarter. Royce & Associates LP now owns 342,652 shares of the semiconductor company's stock worth $10,547,000 after buying an additional 1,176 shares during the period. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

Photronics Company Profile

Photronics, Inc manufactures photomasks, high-precision plates used to transfer circuit patterns onto semiconductor wafers and flat-panel displays. Its products support the production of integrated circuits and display technologies.

The company serves semiconductor and display manufacturers around the world, with operations across North America, Europe and Asia. Photronics traces its history to 1969, when it was established as Photronic Labs.

Photronics is headquartered in Brookfield, Connecticut.

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