24,400 Shares in Photronics, Inc. (NASDAQ:PLAB) Acquired by Kovack Advisors Inc.

Kovack Advisors Inc. acquired a new stake in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,400 shares of the semiconductor company's stock, valued at approximately $575,000.

A number of other large investors have also bought and sold shares of the company. Denali Advisors LLC bought a new position in Photronics during the fourth quarter worth about $1,319,000. Skylands Capital LLC boosted its holdings in Photronics by 50.9% in the 4th quarter. Skylands Capital LLC now owns 164,500 shares of the semiconductor company's stock worth $3,876,000 after buying an additional 55,500 shares during the period. Alberta Investment Management Corp purchased a new position in Photronics in the 4th quarter valued at approximately $1,227,000. New York State Common Retirement Fund raised its holdings in Photronics by 45.7% during the 4th quarter. New York State Common Retirement Fund now owns 59,270 shares of the semiconductor company's stock valued at $1,396,000 after acquiring an additional 18,600 shares during the period. Finally, Sanctuary Advisors LLC lifted its position in shares of Photronics by 10.8% during the fourth quarter. Sanctuary Advisors LLC now owns 81,283 shares of the semiconductor company's stock worth $1,874,000 after acquiring an additional 7,933 shares in 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, EVP Christopher J. Progler sold 63,000 shares of Photronics stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $24.85, for a total transaction of $1,565,550.00. Following the completion of the sale, the executive vice president now directly owns 219,166 shares in the company, valued at $5,446,275.10. The trade was a 22.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kang Jyh Lee sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $25.27, for a total transaction of $505,400.00. Following the completion of the transaction, the chief executive officer now directly owns 524,600 shares of the company's stock, valued at approximately $13,256,642. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 199,000 shares of company stock valued at $4,878,810. Company insiders own 3.20% of the company's stock.

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Photronics Price Performance

Shares of PLAB traded up $0.55 during midday trading on Tuesday, hitting $20.44. 388,966 shares of the company traded hands, compared to its average volume of 444,737. The stock has a 50-day moving average of $23.03 and a 200-day moving average of $23.83. Photronics, Inc. has a one year low of $19.69 and a one year high of $31.60. The firm has a market cap of $1.30 billion, a P/E ratio of 9.75 and a beta of 1.37.

Photronics (NASDAQ:PLAB - Get Free Report) last posted its earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share (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 analysts' expectations of $210.00 million. Photronics had a net margin of 15.07% and a return on equity of 9.10%. During the same period in the prior year, the company posted $0.48 EPS. Sell-side analysts forecast that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.