Market Analysts see Photronics Inc. [PLAB] gaining to $13. Time to buy?

Photronics Inc. [NASDAQ: PLAB] jumped around 0.33 points on Wednesday, while shares priced at $9.91 at the close of the session, up 3.44%. The company report on September 14, 2020 that Photronics Announces $100 Million Share Repurchase Program.

Photronics, Inc. (NASDAQ:PLAB), a worldwide leader in photomask technologies and solutions, announced that its Board of Directors has authorized the repurchase of up to $100 million of its common stock. The purchases will occur pursuant to a new repurchase plan under SEC Rule 10b5-1.

“We paused our share repurchase activity in March of this year by terminating our previous program in light of the growing global macroeconomic uncertainty at that time,” said Peter Kirlin, chief executive officer. “Since then, both the semiconductor and display markets have been very dynamic and we believe that on balance industry uncertainty has moderated. Furthermore, our long-term business outlook remains positive and we remain committed to our long-term growth initiatives and capital deployment strategies. We have generated $78 million in cash from operating activities and increased our cash position by $54 million since the beginning of fiscal 2020. As a result, we believe now is the right time to resume our share repurchase activity.”.

Photronics Inc. stock is now -37.12% down from its year-to-date (YTD) trading value. PLAB Stock saw the intraday high of $10.06 and lowest of $9.61 per share. The company’s 52-week high price is 16.75, which means current price is +19.25% above from all time high which was touched on 01/02/20.

Compared to the average trading volume of 520.76K shares, PLAB reached a trading volume of 1014999 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Photronics Inc. [PLAB]?

Stifel have made an estimate for Photronics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 11, 2020. While these analysts kept the previous recommendation, Stifel dropped their target price from $15 to $13. The new note on the price target was released on June 22, 2020, representing the official price target for Photronics Inc. stock. Previously, the target price had yet another raise to $16, while Stifel analysts kept a Buy rating on PLAB stock.

The Average True Range (ATR) for Photronics Inc. is set at 0.43, with the Price to Sales ratio for PLAB stock in the period of the last 12 months amounting to 1.03. The Price to Book ratio for the last quarter was 0.81, with the Price to Cash per share for the same quarter was set at 4.06. Price to Free Cash Flow for PLAB in the course of the last twelve months was 9.33 with Quick ratio for the last quarter at 2.60.

How has PLAB stock performed recently?

Photronics Inc. [PLAB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.13. With this latest performance, PLAB shares dropped by -15.87% in over the last four-week period, additionally plugging by 15.64% over the last 6 months – not to mention a drop of -10.32% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PLAB stock in for the last two-week period is set at 46.44, with the RSI for the last a single of trading hit 51.64, and the three-weeks RSI is set at 44.23 for Photronics Inc. [PLAB]. The present Moving Average for the last 50 days of trading for this stock 10.95, while it was recorded at 9.32 for the last single week of trading, and 12.16 for the last 200 days.

Photronics Inc. [PLAB]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Photronics Inc. [PLAB] shares currently have an operating margin of +9.47 and a Gross Margin at +21.94. Photronics Inc.’s Net Margin is presently recorded at +5.41.

Return on Total Capital for PLAB is now 5.41, given the latest momentum, and Return on Invested Capital for the company is 3.79. Return on Equity for this stock inclined to 3.90, with Return on Assets sitting at 2.67. When it comes to the capital structure of this company, Photronics Inc. [PLAB] has a Total Debt to Total Equity ratio set at 6.85. Additionally, PLAB Total Debt to Total Capital is recorded at 6.41, with Total Debt to Total Assets ending up at 4.72. Long-Term Debt to Equity for the company is recorded at 5.44, with the Long-Term Debt to Total Capital now at 5.09.

Reflecting on the efficiency of the workforce at the company, Photronics Inc. [PLAB] managed to generate an average of $16,785 per employee. Receivables Turnover for the company is 4.19 with a Total Asset Turnover recorded at a value of 0.49.Photronics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 2.90.

Earnings analysis for Photronics Inc. [PLAB]

With the latest financial reports released by the company, Photronics Inc. posted 0.15/share EPS, while the average EPS was predicted by analysts to be reported at 0.15/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PLAB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Photronics Inc. go to 10.00%.

Insider trade positions for Photronics Inc. [PLAB]

There are presently around $603 million, or 95.00% of PLAB stock, in the hands of institutional investors. The top three institutional holders of PLAB stocks are: BLACKROCK INC. with ownership of 9,531,406, which is approximately -3.914% of the company’s market cap and around 0.30% of the total institutional ownership; DIMENSIONAL FUND ADVISORS LP, holding 5,445,174 shares of the stock with an approximate value of $53.96 million in PLAB stocks shares; and VANGUARD GROUP INC, currently with $42.89 million in PLAB stock with ownership of nearly -3.525% of the company’s market capitalization.

Positions in Photronics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 99 institutional holders increased their position in Photronics Inc. [NASDAQ:PLAB] by around 5,673,790 shares. Additionally, 108 investors decreased positions by around 5,731,408 shares, while 33 investors held positions by with 49,401,503 shares. The mentioned changes placed institutional holdings at 60,806,701 shares, according to the latest SEC report filing. PLAB stock had 38 new institutional investments in for a total of 1,705,182 shares, while 31 institutional investors sold positions of 1,764,537 shares during the same period.

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