Needham & Company Reiterates a 'Buy' on Photronics (PLAB); Analyst Day Recap; Positioned to Outgrow the Industry
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Price: $33.32 -0.48%
Rating Summary:
5 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Photronics (NASDAQ: PLAB) price target of $11.00.
Needham analyst says, "Yesterday after market close, PLAB held an Analyst Meeting in Boise, Idaho, where the NanoFab facility is located. Management sounded confident it could continue to outgrow the semiconductor sector by 5-10% points, given that PLAB’s business is more leveraged to the design cycle than production, and that it benefits from customers accelerating transition to newer generation technologies to cut costs. The presentation highlighted the success of PLAB’s high-end strategy, which we believe will continue to enable share gain. Additionally, we believe PLAB will benefit from an OLED ramp. Given that the stock is trading at a P/TBV of just 1.0X, we recommend investors buy PLAB on the recent pull back."
For more ratings news on Photronics click here and for the rating history of Photronics click here.
Shares of Photronics closed at $6.16 yesterday.
Needham analyst says, "Yesterday after market close, PLAB held an Analyst Meeting in Boise, Idaho, where the NanoFab facility is located. Management sounded confident it could continue to outgrow the semiconductor sector by 5-10% points, given that PLAB’s business is more leveraged to the design cycle than production, and that it benefits from customers accelerating transition to newer generation technologies to cut costs. The presentation highlighted the success of PLAB’s high-end strategy, which we believe will continue to enable share gain. Additionally, we believe PLAB will benefit from an OLED ramp. Given that the stock is trading at a P/TBV of just 1.0X, we recommend investors buy PLAB on the recent pull back."
For more ratings news on Photronics click here and for the rating history of Photronics click here.
Shares of Photronics closed at $6.16 yesterday.
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