ExodusPoint Capital Management LP Acquires New Holdings in Photronics, Inc. (NASDAQ:PLAB)

ExodusPoint Capital Management LP acquired a new stake in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 34,713 shares of the semiconductor company's stock, valued at approximately $818,000. ExodusPoint Capital Management LP owned approximately 0.05% of Photronics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Photronics during the fourth quarter valued at approximately $7,787,000. Boston Partners raised its stake in shares of Photronics by 45.3% in the 4th quarter. Boston Partners now owns 799,439 shares of the semiconductor company's stock worth $18,893,000 after buying an additional 249,222 shares in the last quarter. Kestrel Investment Management Corp bought a new position in Photronics during the fourth quarter valued at about $5,163,000. JPMorgan Chase & Co. grew its holdings in Photronics by 118.8% during the fourth quarter. JPMorgan Chase & Co. now owns 367,346 shares of the semiconductor company's stock worth $8,655,000 after acquiring an additional 199,490 shares during the period. Finally, American Century Companies Inc. raised its position in Photronics by 8.6% in the fourth quarter. American Century Companies Inc. now owns 2,018,887 shares of the semiconductor company's stock worth $47,565,000 after acquiring an additional 159,245 shares in the last quarter. Institutional investors own 88.38% of the company's stock.

Photronics Trading Down 1.5 %

Shares of NASDAQ PLAB traded down $0.27 during midday trading on Wednesday, reaching $17.73. The company's stock had a trading volume of 101,625 shares, compared to its average volume of 503,442. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 8.49 and a beta of 1.40. Photronics, Inc. has a one year low of $16.46 and a one year high of $31.60. The company has a 50 day moving average price of $20.64 and a 200 day moving average price of $22.98.

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

Insiders Place Their Bets

In other news, Director Walter M. Fiederowicz sold 7,000 shares of Photronics stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $18.88, for a total transaction of $132,160.00. Following the transaction, the director now owns 17,548 shares in the company, valued at approximately $331,306.24. The trade was a 28.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kang Jyh Lee sold 8,750 shares of Photronics stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $24.40, for a total value of $213,500.00. Following the transaction, 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. Insiders sold a total of 40,750 shares of company stock worth $866,760 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

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.