AXQ Capital LP Takes $305,000 Position in Photronics, Inc. (NASDAQ:PLAB)

AXQ Capital LP bought a new stake in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,957 shares of the semiconductor company's stock, valued at approximately $305,000.

Several other hedge funds also recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its stake in Photronics by 216.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company's stock worth $26,000 after buying an additional 762 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Photronics by 65.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company's stock valued at $54,000 after acquiring an additional 904 shares during the last quarter. GAMMA Investing LLC grew its position in Photronics by 17.6% during the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company's stock worth $81,000 after purchasing an additional 516 shares during the period. KBC Group NV lifted its holdings in shares of Photronics by 76.8% in the 4th quarter. KBC Group NV now owns 3,467 shares of the semiconductor company's stock valued at $82,000 after buying an additional 1,506 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Photronics in the 3rd quarter worth approximately $112,000. Institutional investors own 88.38% of the company's stock.

Insider Buying and Selling at Photronics

In other news, CEO Kang Jyh Lee sold 17,500 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total value of $421,750.00. Following the transaction, the chief executive officer now directly owns 510,850 shares of the company's stock, valued at approximately $12,311,485. This trade represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Han Kyung Park sold 11,250 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $24.63, for a total transaction of $277,087.50. Following the transaction, the senior vice president now owns 118,000 shares in the company, valued at $2,906,340. The trade was a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,500 shares of company stock worth $1,829,138. Corporate insiders own 3.20% of the company's stock.

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Analyst Upgrades and Downgrades

Separately, DA Davidson lifted their price objective on shares of Photronics from $32.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, December 12th.

Photronics Stock Performance

Shares of PLAB stock traded down $0.40 on Thursday, reaching $21.28. 599,743 shares of the company were exchanged, compared to its average volume of 461,261. Photronics, Inc. has a 1 year low of $19.61 and a 1 year high of $31.60. The business has a 50-day moving average price of $22.08 and a 200 day moving average price of $23.49. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 10.18 and a beta of 1.43.

Photronics (NASDAQ:PLAB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.47 by $0.05. The company had revenue of $212.14 million during the quarter, compared to analyst estimates of $210.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. During the same period in the previous year, the business earned $0.48 EPS. As a group, equities analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current year.

Photronics Company Profile

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates.