Needham & Company Downgrades Photronics (PLAB) to Hold, Model Reset Following Warning
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Go back to Needham & Company Downgrades Photronics (PLAB) to Hold, Model Reset Following Warning
November 11, 2016 6:49 AM EST
Stifel downgraded Photronics (NASDAQ: PLAB) from Buy to Hold with a price target of $8.50 (from $12.00).
For an analyst ratings summary and ratings history on Photronics click here. For more ratings news on Photronics click here.
Shares of Photronics closed at $10.75 yesterday.
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November 10, 2016 5:32 PM EST
Photronics, Inc. (NASDAQ: PLAB) is down sharply after-hours after the company provided preliminary results for the fourth quarter of fiscal 2016, ended October 30, 2016.
Based upon preliminary financial results, Photronics now expects fourth quarter sales to be approximately $107 million, and diluted earnings per share (EPS) to be in the range of $0.02 to $0.03. These expectations compare with the previously announced guidance range of $118 to $128 million in sales and... More
