Meeder Asset Management Inc. Raises Stake in Photronics, Inc. (NASDAQ:PLAB)

Meeder Asset Management Inc. boosted its holdings in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 36.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,133 shares of the semiconductor company's stock after purchasing an additional 13,014 shares during the quarter. Meeder Asset Management Inc. owned about 0.08% of Photronics worth $1,158,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Intech Investment Management LLC raised its holdings in shares of Photronics by 28.3% in the third quarter. Intech Investment Management LLC now owns 23,196 shares of the semiconductor company's stock valued at $574,000 after buying an additional 5,120 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Photronics by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 967,003 shares of the semiconductor company's stock valued at $23,943,000 after acquiring an additional 32,977 shares during the last quarter. FMR LLC lifted its position in Photronics by 36.0% during the 3rd quarter. FMR LLC now owns 135,208 shares of the semiconductor company's stock worth $3,348,000 after acquiring an additional 35,825 shares during the period. BNP Paribas Financial Markets lifted its position in Photronics by 53.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 49,077 shares of the semiconductor company's stock worth $1,215,000 after acquiring an additional 17,113 shares during the period. Finally, Martingale Asset Management L P grew its stake in shares of Photronics by 3.8% in the 3rd quarter. Martingale Asset Management L P now owns 95,548 shares of the semiconductor company's stock valued at $2,366,000 after purchasing an additional 3,496 shares during the last quarter. Institutional investors and hedge funds own 88.38% of the company's stock.

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Wall Street Analyst Weigh In

Separately, DA Davidson upped their price target 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, CEO Kang Jyh Lee sold 8,750 shares of Photronics stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $24.40, for a total transaction of $213,500.00. Following the completion of the transaction, the chief executive officer now directly owns 572,100 shares in the company, valued at $13,959,240. The trade was a 1.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Han Kyung Park sold 11,250 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $24.63, for a total value of $277,087.50. Following the completion of the sale, the senior vice president now directly owns 118,000 shares in the company, valued at approximately $2,906,340. The trade was a 8.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,000 shares of company stock valued at $1,407,388. Insiders own 3.20% of the company's stock.

Photronics Stock Down 11.4 %

Shares of PLAB traded down $2.35 on Thursday, reaching $18.17. The stock had a trading volume of 532,558 shares, compared to its average volume of 483,497. Photronics, Inc. has a twelve month low of $18.17 and a twelve month high of $31.60. The firm has a market capitalization of $1.15 billion, a PE ratio of 8.75 and a beta of 1.43. The firm has a 50-day moving average of $21.72 and a 200 day moving average of $23.42.

Photronics (NASDAQ:PLAB - Get Free Report) last posted its earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 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 the consensus estimate of $210.00 million. During the same period in the previous year, the business earned $0.48 earnings per share. On average, sell-side analysts anticipate 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.