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Photronics (NASDAQ:PLAB - Get Rating) had its price objective reduced by analysts at DA Davidson from $30.00 to $28.00 in a note issued to investors on Wednesday, The Fly reports. DA Davidson's price target suggests a potential upside of 68.27% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Northland Securities raised their price objective on Photronics from $25.00 to $26.00 and gave the company an "outperform" rating in a research report on Thursday, May 26th. Stifel Nicolaus upped their target price on Photronics from $21.00 to $23.00 in a research report on Wednesday, May 25th.Photronics Trading Down 23.6 %

PLAB opened at $16.64 on Wednesday. Photronics has a 52 week low of $12.18 and a 52 week high of $25.81. The company has a market capitalization of $1.03 billion, a P/E ratio of 11.24 and a beta of 1.03. The stock's fifty day moving average is $21.55 and its two-hundred day moving average is $18.92. The company has a quick ratio of 3.07, a current ratio of 3.38 and a debt-to-equity ratio of 0.07.

Photronics (NASDAQ:PLAB - Get Rating) last released its quarterly earnings data on Tuesday, August 30th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. The firm had revenue of $219.90 million for the quarter, compared to the consensus estimate of $210.00 million. Photronics had a net margin of 12.03% and a return on equity of 8.45%. The company's quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. Analysts forecast that Photronics will post 1.89 earnings per share for the current year. Insider Activity at Photronics

In other Photronics news, Director Mitchell G. Tyson sold 2,000 shares of the business's stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $23.54, for a total transaction of $47,080.00. Following the transaction, the director now owns 66,379 shares in the company, valued at approximately $1,562,561.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is currently owned by insiders. Hedge Funds Weigh In On Photronics

Several hedge funds have recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System increased its stake in shares of Photronics by 1.9% during the 2nd quarter. Maryland State Retirement & Pension System now owns 25,209 shares of the semiconductor company's stock valued at $491,000 after acquiring an additional 474 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in Photronics by 6.8% in the second quarter. Meeder Asset Management Inc. now owns 7,988 shares of the semiconductor company's stock valued at $155,000 after buying an additional 508 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Photronics by 0.5% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 147,920 shares of the semiconductor company's stock worth $2,788,000 after buying an additional 670 shares during the period. Teacher Retirement System of Texas increased its position in shares of Photronics by 6.6% in the first quarter. Teacher Retirement System of Texas now owns 12,568 shares of the semiconductor company's stock worth $213,000 after acquiring an additional 773 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in shares of Photronics by 2.1% in the 2nd quarter. Texas Permanent School Fund now owns 44,616 shares of the semiconductor company's stock valued at $869,000 after acquiring an additional 918 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors. About Photronics (Get Rating)

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, Korea, Europe, China, and internationally. The company offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, FDP substrates, and other types of electrical and optical components.Featured ArticlesGet a free copy of the StockNews.com research report on Photronics (PLAB)Can Pinterest Rally On Support From Big Investor With Conviction?Chargepoint Rallies, Despite Weaker EarningsIs Cadence Close To A Cup-With-High-Handle Breakout?How the Pandemic Forced F5 to Flex its Software Side Shock Absorbers: 3 Low Volatility Dividend Stocks for Bumpy Times

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