In last trading session, Photronics Inc. (NASDAQ:PLAB) saw 0.7 million shares changing hands with its beta currently measuring 0.96. Company’s recent per share price level of $19.79 trading at $1.05 or 5.60% at ring of the bell on the day assigns it a market valuation of $1.25B. That closing price of PLAB’s stock is at a discount of -0.66% from its 52-week high price of $19.92 and is indicating a premium of 44.67% from its 52-week low price of $10.95. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.62 million shares which gives us an average trading volume of 545.75K if we extend that period to 3-months.
For Photronics Inc. (PLAB), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.30. Splitting up the data highlights that, out of 3 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 2 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.31 in the current quarter.
Photronics Inc. (NASDAQ:PLAB) trade information
Upright in the green during last session for gaining 5.60%, in the last five days PLAB remained trading in the green while hitting it’s week-highest on Friday, 01/14/22 when the stock touched $19.79 price level, adding 0.05% to its value on the day. Photronics Inc.’s shares saw a change of 4.99% in year-to-date performance and have moved 6.68% in past 5-day. Photronics Inc. (NASDAQ:PLAB) showed a performance of 10.31% in past 30-days. Number of shares sold short was 1.21 million shares which calculate 1.79 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $20.67 to the stock, which implies a rise of 4.26% to its current value. Analysts have been projecting $16.00 as a low price target for the stock while placing it at a high target of $24.00. It follows that stock’s current price would drop -21.27% in reaching the projected high whereas dropping to the targeted low would mean a gain of 19.15% for stock’s current value.
Photronics Inc. (PLAB) estimates and forecasts
Statistics highlight that Photronics Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 55.58% of value to its shares in past 6 months, showing an annual growth rate of 46.07% while that of industry is 24.30. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 138.50% in the current quarter and calculating 88.20% increase in the next quarter. This year revenue growth is estimated to rise 13.00% from the last financial year’s standing.
3 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $183.1 million for the same. And 3 analysts are in estimates of company making revenue of $185.63 million in the next quarter that will end on Apr 2022.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 6.80% during past 5 years. In 2022, company’s earnings growth rate is likely to be around 73.10% while estimates for its earnings growth in next 5 years are of 10.00%.
Photronics Inc. is more likely to be releasing its next quarterly report between February 22 and February 28 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Photronics Inc. (NASDAQ:PLAB)’s Major holders
Insiders are in possession of 2.81% of company’s total shares while institution are holding 92.71 percent of that, with stock having share float percentage of 95.39%. Investors also watch the number of corporate investors in a company very closely, which is 92.71% institutions for Photronics Inc. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at PLAB for having 9.52 million shares of worth $129.81 million. And as of Sep 29, 2021, it was holding 15.64% of the company’s outstanding shares.
The second largest institutional holder is Dimensional Fund Advisors LP, which was holding about 4.67 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 7.67% of outstanding shares, having a total worth of $63.65 million.
On the other hand, iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Oct 30, 2021, the former fund manager was holding 4.18 million shares of worth $54.26 million or 6.86% of the total outstanding shares. The later fund manager was in possession of 1.7 million shares on Sep 29, 2021, making its stake of worth around $23.18 million in the company or a holder of 2.79% of company’s stock.