Charles Schwab Investment Management Inc. Purchases 40,579 Shares of Photronics, Inc. (NASDAQ:PLAB)

Charles Schwab Investment Management Inc. grew its holdings in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,007,582 shares of the semiconductor company's stock after buying an additional 40,579 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.59% of Photronics worth $23,739,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. M&T Bank Corp purchased a new position in Photronics during the third quarter worth about $252,000. Geode Capital Management LLC boosted its holdings in Photronics by 5.1% during the third quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company's stock worth $43,217,000 after purchasing an additional 85,160 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Photronics by 4.9% during the third quarter. Victory Capital Management Inc. now owns 530,401 shares of the semiconductor company's stock worth $13,133,000 after purchasing an additional 24,834 shares during the last quarter. FMR LLC boosted its holdings in Photronics by 36.0% during the third quarter. FMR LLC now owns 135,208 shares of the semiconductor company's stock worth $3,348,000 after purchasing an additional 35,825 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Photronics during the fourth quarter worth about $298,000. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Han Kyung Park sold 11,250 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $23.80, for a total value of $267,750.00. Following the sale, the senior vice president now owns 102,500 shares of the company's stock, valued at $2,439,500. The trade was a 9.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kang Jyh Lee sold 8,750 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $24.40, for a total transaction of $213,500.00. Following the completion of the sale, the chief executive officer now directly owns 572,100 shares in the company, valued at approximately $13,959,240. This trade represents a 1.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 106,250 shares of company stock valued at $2,540,688. Company insiders own 3.20% of the company's stock.

Remove Ads

Photronics Stock Performance

PLAB stock traded down $0.34 during mid-day trading on Friday, hitting $21.01. The company had a trading volume of 2,296,351 shares, compared to its average volume of 458,368. The firm has a market cap of $1.34 billion, a PE ratio of 10.05 and a beta of 1.43. Photronics, Inc. has a 12 month low of $19.61 and a 12 month high of $31.60. The stock's fifty day moving average price is $22.21 and its two-hundred day moving average price is $23.52.

Photronics (NASDAQ:PLAB - Get Free Report) last announced 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 business had revenue of $212.14 million for the quarter, compared to analyst estimates of $210.00 million. Photronics had a net margin of 15.07% and a return on equity of 9.10%. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Equities analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Photronics 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.