Geode Capital Management LLC Acquires 30,237 Shares of Photronics, Inc. (NASDAQ:PLAB)

Geode Capital Management LLC increased its stake in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,775,402 shares of the semiconductor company's stock after purchasing an additional 30,237 shares during the quarter. Geode Capital Management LLC owned approximately 2.80% of Photronics worth $41,837,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PLAB. M&T Bank Corp purchased a new stake in Photronics in the 3rd quarter worth $252,000. Charles Schwab Investment Management Inc. increased its stake in Photronics by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,007,582 shares of the semiconductor company's stock worth $23,739,000 after acquiring an additional 40,579 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Photronics during the 4th quarter valued at approximately $298,000. Empowered Funds LLC grew its holdings in shares of Photronics by 13.4% in the fourth quarter. Empowered Funds LLC now owns 376,726 shares of the semiconductor company's stock valued at $8,876,000 after purchasing an additional 44,602 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Photronics by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 5,868,889 shares of the semiconductor company's stock worth $138,271,000 after purchasing an additional 29,681 shares during the last quarter. 88.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Photronics

In other Photronics news, Director Walter M. Fiederowicz sold 10,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $21.63, for a total transaction of $216,300.00. Following the transaction, the director now owns 29,548 shares in the company, valued at $639,123.24. The trade was a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 44,548 shares of company stock worth $877,093. Company insiders own 3.20% of the company's stock.

Photronics Stock Performance

PLAB stock traded down $0.11 during trading on Friday, hitting $17.67. 691,084 shares of the company's stock traded hands, compared to its average volume of 509,612. The business has a fifty day simple moving average of $20.35 and a 200 day simple moving average of $22.83. Photronics, Inc. has a 52 week low of $16.46 and a 52 week high of $31.60. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 8.45 and a beta of 1.40.

Photronics (NASDAQ:PLAB - Get Free Report) last released its quarterly earnings results 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 quarter last year, the business posted $0.48 earnings per share. Research analysts forecast that Photronics, Inc. will post 2.3 earnings per share for the current fiscal 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.