Reaffirmed: Photronics (NASDAQ:PLAB) Buy Rating Has Been Reiterated by equity analysts Needham; $14.0 Target in Place


Photronics (NASDAQ:PLAB) Rating Reaffirmed

New York: In a comprehensive report announced on Friday morning, Needham reconfirmed their Buy rating on Photronics (NASDAQ:PLAB) shares. They now have a $14.0 target price per share on the firm. Needham’s target would indicate a potential upside of 20.48% from the company’s current stock price.

From a total of 5 analysts covering Photronics (NASDAQ:PLAB) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that 100% of the ratings are positive. The highest target price is $15 while the lowest target price is $11.5. The mean of all analyst targets is $13.6 with a 2.24% above today’s ($11.62) stock price. Photronics was the topic of 4 analyst reports since August 21, 2015 according to the firm StockzIntelligence Inc. Suntrust Robinson initiated shares on October 1 with “Buy” rating. RBC Capital Markets initiated PLAB stock in a recent report from October 1 with “Buy” rating.

The stock increased 4.22% or $0.47 on December 3, striking $11.62. Approximately shares of stock traded hands. Photronics, Inc. (NASDAQ:PLAB) has risen 31.00% since May 1, 2015 and is uptrending. It has outperformed by 33.79% the S&P500.

Analysts await Photronics, Inc. (NASDAQ:PLAB) to reports earnings on December, 14. They expect $0.18 EPS, up 157.14% or $0.11 from last year’s $0.07 per share. PLAB’s profit will be $12.02 million for 16.14 P/E if the $0.18 EPS becomes reality. After $0.17 actual EPS reported by Photronics, Inc. for the previous quarter, Wall Street now forecasts 5.88% EPS growth.

Photronics, Inc. is a manufacturer of photo masks. The company has a market cap of $775.85 million. The Firm 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. It has 19.68 P/E ratio. The Firm operates from nine manufacturing facilities; two of which are located in Europe, two in Taiwan, one in Korea, and three in the United States.

According to Zacks Investment Research, “Photronics is a leading worldwide manufacturer of photomasks. Photomasks are high precision quartz plates that contain microscopic images of electronic circuits. A key element in the manufacture of semiconductors and flat panel displays, photomasks are used to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits, a variety of flat panel displays and, to a lesser extent, other types of electrical and optical components. They are produced in accordance with product designs provided by customers at strategically located manufacturing facilities in Asia, Europe, and North America.” Get a free copy of the Zacks research report on Photronics, Inc. (PLAB).