UBS Maintains Photronics to Buy with Price Target $11.50

Brokerage firm UBS Maintains its rating on Photronics(NASDAQ:PLAB). In a research note issued to the investors, the brokerage major Lowers the price-target to $11.50 per share. The shares have been rated Buy. The rating by UBS was issued on Aug 19, 2016.

Photronics (PLAB) made into the market gainers list on Mondays trading session with the shares advancing 0.21% or 0.02 points. Due to strong positive momentum, the stock ended at $9.4, which is also near the day’s high of $9.52. The stock began the session at $9.45 and the volume stood at 1,86,796 shares. The 52-week high of the shares is $13.05 and the 52 week low is $8.56. The company has a current market capitalization of $641 M and it has 6,81,39,720 shares in outstanding.

Photronics(PLAB) last announced its earnings results on Aug 18, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $123.21M. Analysts had an estimated revenue of $123.54M. Earnings per share were $0.12. Analysts had estimated an EPS of $0.14.

Several Insider Transactions has been reported to the SEC. On Apr 29, 2016, Mitchell G Tyson (director) sold 1,200 shares at $11.00 per share price.Also, On Mar 30, 2016, Walter M Fiederowicz (director) sold 3,000 shares at $10.39 per share price.On Jan 22, 2016, Peter S Kirlin (Chief Executive Officer) sold 7,687 shares at $11.56 per share price, according to the Form-4 filing with the securities and exchange commission.

Photronics Inc. (Photronics) is a manufacturer of photo masks. The Company offers services across the full spectrum of integrated chip (IC) production and flat panel display (FPD) technologies by manufacturing photomasks using electron beam or optical (laser-based) systems. The Company operates from nine manufacturing facilities; two of which are located in Europe two in Taiwan one in Korea and three in the United States. The Company primarily sells its products to leading semiconductor and FPD manufacturers. In addition to the sales personnel at the Company’s manufacturing facilities the Company has sales offices in the United States Europe and Asia. The Company supports international customers through both its domestic and international facilities.

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