Price Action Don’t Lie: What Will Happen to Photronics, Inc. Next? The Stock Just Reaches Yearly Low

Price Action Don't Lie: What Will Happen to Photronics, Inc. Next? The Stock Just Reaches Yearly Low

The stock of Photronics, Inc. (NASDAQ:PLAB) hit a new 52-week low and has $8.11 target or 8.00% below today’s $8.82 share price. The 8 months bearish chart indicates high risk for the $604.56M company. The 1-year low was reported on Nov, 11 by Barchart.com. If the $8.11 price target is reached, the company will be worth $48.36M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 575,605 shares traded hands or 94.71% up from the average. Photronics, Inc. (NASDAQ:PLAB) has risen 2.97% since April 11, 2016 and is uptrending. It has underperformed by 3.18% the S&P500.

Photronics, Inc. (NASDAQ:PLAB) Ratings Coverage

Out of 6 analysts covering Photronics (NASDAQ:PLAB), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. $14 is the highest target while $8.50 is the lowest. The $11.50 average target is 30.39% above today’s ($8.82) stock price. Photronics has been the topic of 8 analyst reports since August 21, 2015 according to StockzIntelligence Inc. Suntrust Robinson initiated the shares of PLAB in a report on Thursday, October 1 with “Buy” rating. The company was initiated on Thursday, October 1 by RBC Capital Markets. The firm earned “Buy” rating on Thursday, October 1 by SunTrust. On Friday, November 11 the stock rating was downgraded by Stifel Nicolaus to “Hold”. The firm has “Buy” rating given on Friday, February 12 by Needham. The firm earned “Buy” rating on Friday, December 4 by Needham. The firm has “Hold” rating given on Friday, November 11 by Needham.

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.”

Insitutional Activity: The institutional sentiment decreased to 0.95 in 2016 Q2. Its down 0.20, from 1.15 in 2016Q1. The ratio dropped, as 18 funds sold all Photronics, Inc. shares owned while 60 reduced positions. 20 funds bought stakes while 54 increased positions. They now own 65.93 million shares or 7.31% more from 61.44 million shares in 2016Q1.
Tudor Inv Corporation Et Al accumulated 31,470 shares or 0.01% of the stock. Royal Bank Of Canada has 0% invested in the company for 71,816 shares. Rice Hall James Assoc Limited Com last reported 0.06% of its portfolio in the stock. Malaga Cove Ltd Liability has 0.51% invested in the company for 59,686 shares. Phocas Financial accumulated 0.3% or 458,091 shares. Ameriprise Fin last reported 0% of its portfolio in the stock. Citigroup Inc holds 17,139 shares or 0% of its portfolio. The Delaware-based Blackrock Advisors Limited Company has invested 0% in Photronics, Inc. (NASDAQ:PLAB). Victory Cap Mngmt, a Ohio-based fund reported 57,094 shares. California Employees Retirement System last reported 832,600 shares in the company. Clinton Group has 51,709 shares for 0.02% of their US portfolio. Teacher Retirement System Of Texas last reported 9,481 shares in the company. Navellier accumulated 0.03% or 24,165 shares. Menta Ltd last reported 0.1% of its portfolio in the stock. Aegis Fin Corp holds 2.16% of its portfolio in Photronics, Inc. (NASDAQ:PLAB) for 248,202 shares.

Insider Transactions: Since September 14, 2016, the stock had 0 buys, and 2 sales for $331,438 net activity. 12,000 shares were sold by FIORITA JOSEPH A JR, worth $120,000. FIEDEROWICZ WALTER M had sold 21,250 shares worth $211,438 on Wednesday, September 14.

More important recent Photronics, Inc. (NASDAQ:PLAB) news were published by: Streetinsider.com which released: “Photronics, Inc. (PLAB) Warns for Q4” on November 10, 2016, also Marketwatch.com published article titled: “Plus the latest data from Realtor.com on 21 home markets across the US”, Rttnews.com published: “Photronics Inc. (PLAB) Has Dropped To A 4-Month Low On Weak Q4 Outlook” on November 11, 2016. More interesting news about Photronics, Inc. (NASDAQ:PLAB) was released by: Streetinsider.com and their article: “Photronics, Inc. (PLAB) Acquires Assets and Certain IP from Infinite Graphics” with publication date: November 01, 2016.

PLAB Company Profile

Photronics, Inc. (Photronics), incorporated on February 28, 1969, is a maker of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. The Firm supports clients across the full spectrum of integrated circuit (IC) production and flat panel display (FPD) technologies by manufacturing photomasks using electron beam or optical (laser-based) systems, which are the predominant technologies used for photomask manufacturing. The electron beam and laser generated photomasks are used to produce semiconductors and FPDs for use in an array of products. The end markets served with IC photomasks include devices used for microprocessors, memory, telecommunications and related applications.

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