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

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

Photronics Stock Performance

PLAB opened at $26.49 on Thursday. The company has a fifty day moving average price of $24.48 and a two-hundred day moving average price of $24.54. Photronics has a 52 week low of $20.25 and a 52 week high of $34.16. The firm has a market capitalization of $1.68 billion, a PE ratio of 12.67 and a beta of 1.41.

Photronics (NASDAQ:PLAB) last released its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $218.00 million. During the same quarter in the previous year, the business earned $0.60 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities analysts forecast that Photronics will post 2.2 EPS for the current year.

Hedge Funds Weigh In On Photronics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. grew its holdings in shares of Photronics by 4.8% in the 3rd quarter. Franklin Resources Inc. now owns 70,175 shares of the semiconductor company’s stock valued at $1,694,000 after buying an additional 3,217 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Photronics by 12.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 73,350 shares of the semiconductor company’s stock valued at $1,826,000 after buying an additional 8,372 shares during the period. Meros Investment Management LP grew its holdings in shares of Photronics by 5.6% in the 3rd quarter. Meros Investment Management LP now owns 476,395 shares of the semiconductor company’s stock valued at $11,796,000 after buying an additional 25,471 shares during the period. Geode Capital Management LLC grew its holdings in shares of Photronics by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock valued at $43,217,000 after buying an additional 85,160 shares during the period. Finally, M&T Bank Corp acquired a new position in shares of Photronics in the 3rd quarter valued at $252,000. Institutional investors and hedge funds own 88.38% of the company’s stock.

Photronics Company Profile

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.