DA Davidson Boosts Photronics (NASDAQ:PLAB) Price Target to $35.00

Photronics (NASDAQ:PLAB) had its price objective upped by DA Davidson from $32.00 to $35.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. DA Davidson’s price target would indicate a potential upside of 32.13% from the stock’s previous close. DA Davidson also issued estimates for Photronics’ FY2025 earnings at $2.30 EPS.

Separately, StockNews.com upgraded shares of Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th.

Photronics Stock Performance

Shares of Photronics stock opened at $26.49 on Thursday. Photronics has a 1 year low of $20.25 and a 1 year high of $34.16. The company has a market capitalization of $1.68 billion, a P/E ratio of 12.67 and a beta of 1.41. The company’s fifty day moving average is $24.48 and its two-hundred day moving average is $24.56.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.07. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The company had revenue of $222.60 million for the quarter, compared to the consensus estimate of $218.00 million. During the same period last year, the firm posted $0.60 EPS. Photronics’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities analysts expect that Photronics will post 2.2 earnings per share for the current year.

Institutional Trading of Photronics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System lifted its stake in shares of Photronics by 3.1% in the second quarter. Arizona State Retirement System now owns 17,735 shares of the semiconductor company’s stock valued at $438,000 after purchasing an additional 530 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of Photronics by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 28,145 shares of the semiconductor company’s stock valued at $694,000 after purchasing an additional 563 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Photronics by 65.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 567 shares during the period. US Bancorp DE raised its position in Photronics by 137.2% during the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 701 shares during the last quarter. Finally, Koss Olinger Consulting LLC raised its position in Photronics by 4.3% during the third quarter. Koss Olinger Consulting LLC now owns 18,714 shares of the semiconductor company’s stock worth $463,000 after acquiring an additional 780 shares during the last quarter. 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.