James Investment Research Inc. Boosts Stock Position in Photronics, Inc. (NASDAQ:PLAB)

James Investment Research Inc. grew its stake in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) by 84.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 42,587 shares of the semiconductor company's stock after purchasing an additional 19,549 shares during the period. James Investment Research Inc. owned about 0.07% of Photronics worth $1,003,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLAB. CWM LLC increased its holdings in Photronics by 65.6% during the 3rd quarter. CWM LLC now owns 5,456 shares of the semiconductor company's stock worth $135,000 after purchasing an additional 2,162 shares in the last quarter. Creative Planning bought a new stake in Photronics during the 3rd quarter worth approximately $250,000. Koss Olinger Consulting LLC increased its holdings in Photronics by 4.3% during the 3rd quarter. Koss Olinger Consulting LLC now owns 18,714 shares of the semiconductor company's stock worth $463,000 after purchasing an additional 780 shares in the last quarter. Palouse Capital Management Inc. boosted its stake in shares of Photronics by 215.2% in the 3rd quarter. Palouse Capital Management Inc. now owns 9,637 shares of the semiconductor company's stock worth $239,000 after buying an additional 6,580 shares during the last quarter. Finally, Foundations Investment Advisors LLC purchased a new position in shares of Photronics in the 3rd quarter worth approximately $235,000. 88.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Photronics

In related news, SVP Han Kyung Park sold 11,250 shares of the company's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $23.80, for a total value of $267,750.00. Following the transaction, the senior vice president now owns 102,500 shares in the company, valued at approximately $2,439,500. This represents a 9.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kang Jyh Lee sold 17,500 shares of the company's stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $24.00, for a total value of $420,000.00. Following the completion of the transaction, the chief executive officer now owns 528,350 shares in the company, valued at approximately $12,680,400. The trade was a 3.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,000 shares of company stock worth $4,878,810. Insiders own 3.88% of the company's stock.

Photronics Price Performance

Shares of NASDAQ PLAB traded up $0.35 during midday trading on Wednesday, reaching $22.80. The company's stock had a trading volume of 312,554 shares, compared to its average volume of 442,734. Photronics, Inc. has a 12-month low of $20.25 and a 12-month high of $32.83. The firm has a 50 day moving average price of $23.81 and a 200-day moving average price of $23.87. The stock has a market capitalization of $1.44 billion, a P/E ratio of 10.89 and a beta of 1.37.

Photronics (NASDAQ:PLAB - Get Free Report) last announced its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.07. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The firm had revenue of $222.60 million for the quarter, compared to the consensus estimate of $218.00 million. During the same quarter in the previous year, the business earned $0.60 EPS. The company's revenue was down 2.2% compared to the same quarter last year. On average, equities analysts predict that Photronics, Inc. will post 2.3 EPS 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.