Photronics Inc. [NASDAQ: PLAB] stock went on a downward path that fall over -23.56% on Tuesday, amounting to a one-week price decrease of less than -28.52%. The company report on August 30, 2022 that Photronics Reports Third Quarter Fiscal 2022 Results.
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Photronics, Inc. (NASDAQ:PLAB), a worldwide leader in photomask technologies and solutions, today reported financial results for its fiscal 2022 third quarter ended July 31, 2022.
“We achieved our sixth consecutive quarter of record revenue due to strong end market demand, favorable pricing dynamics, and outstanding performance by the entire organization,” said Frank Lee, chief executive officer. “Customers continue to place their trust in Photronics to support their technology roadmap by supplying the high-quality photomasks required for innovative designs that meet consumer demand. We are expanding capacity and growing volumes while controlling costs and capitalizing on operating leverage to deliver higher margins. We are also taking pricing action where appropriate to capture the full value that we are delivering to our customers. Our cash balance grew as we generated strong cash flow from operations, positioning us for continued investments in growth to expand our market-leading presence. I am proud of how the global Photronics team has responded as we look to close out another record year.”.
Over the last 12 months, PLAB stock rose by 13.51%. The one-year Photronics Inc. stock forecast points to a potential upside of 39.86. The average equity rating for PLAB stock is currently 1.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.16 billion, with 60.61 million shares outstanding and 59.75 million shares in the current float. Compared to the average trading volume of 975.96K shares, PLAB stock reached a trading volume of 10243998 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Photronics Inc. [PLAB]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PLAB shares is $27.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PLAB stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stifel have made an estimate for Photronics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 11, 2022. The new note on the price target was released on February 25, 2021, representing the official price target for Photronics Inc. stock. Previously, the target price had yet another raise to $13, while Stifel analysts kept a Buy rating on PLAB stock. On June 22, 2020, analysts decreased their price target for PLAB shares from 15 to 13.
The Average True Range (ATR) for Photronics Inc. is set at 1.63, with the Price to Sales ratio for PLAB stock in the period of the last 12 months amounting to 1.56. The Price to Book ratio for the last quarter was 1.21, with the Price to Cash per share for the same quarter was set at 4.70. Price to Free Cash Flow for PLAB in the course of the last twelve months was 9.29 with Quick ratio for the last quarter at 3.10.
PLAB Stock Performance Analysis:
Photronics Inc. [PLAB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -28.52. With this latest performance, PLAB shares dropped by -30.49% in over the last four-week period, additionally sinking by -6.25% over the last 6 months – not to mention a rise of 13.51% 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 30.72, with the RSI for the last a single of trading hit 24.26, and the three-weeks RSI is set at 35.70 for Photronics Inc. [PLAB]. The present Moving Average for the last 50 days of trading for this stock 21.60, while it was recorded at 21.80 for the last single week of trading, and 18.32 for the last 200 days.
Insight into Photronics Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Photronics Inc. [PLAB] shares currently have an operating margin of +13.71 and a Gross Margin at +25.17. Photronics Inc.’s Net Margin is presently recorded at +8.35.
Return on Equity for this stock inclined to 6.81, with Return on Assets sitting at 4.47.
Photronics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 3.40.
PLAB Stock EPS
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%.
Photronics Inc. [PLAB] Insider Position Details
There are presently around $922 million, or 92.50% of PLAB stock, in the hands of institutional investors. The top three institutional holders of PLAB stocks are: BLACKROCK INC. with ownership of 10,030,352, which is approximately 2.294% of the company’s market cap and around 2.50% of the total institutional ownership; VANGUARD GROUP INC, holding 4,543,393 shares of the stock with an approximate value of $75.6 million in PLAB stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $75.41 million in PLAB stock with ownership of nearly -0.745% 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 126 institutional holders increased their position in Photronics Inc. [NASDAQ:PLAB] by around 6,990,157 shares. Additionally, 101 investors decreased positions by around 5,546,228 shares, while 28 investors held positions by with 42,888,017 shares. The mentioned changes placed institutional holdings at 55,424,402 shares, according to the latest SEC report filing. PLAB stock had 40 new institutional investments in for a total of 1,961,764 shares, while 23 institutional investors sold positions of 2,079,078 shares during the same period.