The stock of Photronics Inc. (NASDAQ:PLAB) decreased by -$0.07 on Friday to finish at $22.53, down -0.31 percent. The last five days have seen an average of 488,960 shares of common stock traded. 26 times new highs were reached in the current year, with a gain of $5.70. The average number of shares traded over the last 20 days was 469,935, while the average volume over the last 50 days totaled 576,450.
PLAB stock dropped -11.40% since last month. On 08/18/23, the company’s shares reached a one-month low of $21.78. The stock touched a high of $26.98 on 07/19/23, after rallying from a low of $13.86 in 52 weeks. The price of PLAB stock has risen by 33.87% or $5.70 this year, reaching a new high 26 times. Still, the stock price is down -16.49% from the 52-week high.
Insider Transactions
PLAB stock investors should be aware that Photronics Inc. (PLAB) stock had its last reported insider trading activity 237 days ago on Jan 03. On Jan 03, Director TYSON MITCHELL G sold 2,000 shares at $17.33 each. This transaction resulted in the insider making $34,660. On Dec 01, TYSON MITCHELL G sold 2,000 shares at a price of US$18.94. After the transaction, the insider now owns 58,379 shares. Director TYSON MITCHELL G had earlier sold 2,000 shares on Nov 01 for $16.53 a share. The transaction was completed for $33,060.
Valuation Metrics
Photronics Inc. (PLAB) has a trailing price-to-earnings (P/E) ratio of 11.32. Beta for the stock is 1.20. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.62, the price-to-book (PB) ratio of 1.48, and the price-to-cash flow ratio of 9.66.
Financial Health
For the three months ended April 29, Photronics Inc.’s quick ratio was 3.60, while its current ratio was 3.90, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending April 29 is 0.02, and the total debt to equity ratio is 0.03. As far as profitability goes, gross margin for the trailing twelve months is 37.70% percent. Photronics Inc.’s EBITDA margin for the year ended April 29 was 35.44%, whereas its operating margin stood at 28.40% for the same period. Based on annual data, it had gross profit of $294.21 million and revenue of $824.55 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. PLAB’s return on assets (ROA) during the last 12 months has been 8.80%. There was a 17.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 13.80%.
Earnings Surprise
According to Photronics Inc.’s quarterly financial report for the quarter that ended April 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $229.31 million, while revenues rose by 10.82% to $211.09 million. It was predicted that Photronics Inc.’s quarterly earnings would be $0.65, but it ended up being $0.44, beating the consensus by 47.70%. EBITDA was $87.03 million for the quarter. At the end of Photronics Inc.’s most recent quarter ended April 29, its liabilities totaled 246.34 million, while its total debt was $28.34 million. Equity owned by shareholders amounts to $62.52 million.
Technical Picture
Here’s a quick look at Photronics Inc.’s (PLAB) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 34.32%, suggesting the stock is Neutral, with a 27.31% historical volatility rate.
The stochastic %K and %D were 22.30% and 22.58% respectively, while the average true range (ATR) was 0.68. Based on the 14-day stochastic reading of 18.35%, the RSI (14) reading is 36.99%. On the 9-day MACD Oscillator, the stock is at 0.18, and the 14-day reading is at -0.45.
Analyst Ratings
Photronics Inc. (NASDAQ: PLAB) was downgraded by Northland Capital to a a Market perform rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned Photronics Inc. (PLAB) an Buy rating. PLAB is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is PLAB’s price target for the next 12 months?
The current consensus forecast for the stock is between $28.00 and $28.00, with a median target price of $28.00. In analyzing these forecasts, the average price target given by analysts for Photronics Inc. (PLAB) is $28.00.
