New York State Common Retirement Fund Buys 18,600 Shares of Photronics, Inc. (NASDAQ:PLAB)

New York State Common Retirement Fund raised its stake in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 45.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,270 shares of the semiconductor company's stock after acquiring an additional 18,600 shares during the period. New York State Common Retirement Fund owned about 0.09% of Photronics worth $1,396,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. M&T Bank Corp bought a new stake in shares of Photronics in the 3rd quarter worth about $252,000. Geode Capital Management LLC grew its stake in Photronics by 5.1% during the third quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company's stock worth $43,217,000 after buying an additional 85,160 shares during the last quarter. Victory Capital Management Inc. grew its stake in Photronics by 4.9% during the third quarter. Victory Capital Management Inc. now owns 530,401 shares of the semiconductor company's stock worth $13,133,000 after buying an additional 24,834 shares during the last quarter. FMR LLC increased its holdings in shares of Photronics by 36.0% during the third quarter. FMR LLC now owns 135,208 shares of the semiconductor company's stock worth $3,348,000 after buying an additional 35,825 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Photronics in the fourth quarter valued at approximately $298,000. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Photronics Trading Down 0.5 %

Shares of Photronics stock traded down $0.11 during trading on Thursday, reaching $20.80. The company's stock had a trading volume of 224,967 shares, compared to its average volume of 445,965. The stock has a 50-day moving average price of $22.88 and a two-hundred day moving average price of $23.78. The stock has a market capitalization of $1.32 billion, a P/E ratio of 9.95 and a beta of 1.37. Photronics, Inc. has a one year low of $19.61 and a one year high of $31.60.

Remove Ads

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, SVP Han Kyung Park sold 11,250 shares of the business's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $23.80, for a total transaction of $267,750.00. Following the completion of the sale, the senior vice president now owns 102,500 shares in the company, valued at $2,439,500. The trade was a 9.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christopher J. Progler sold 63,000 shares of the company's stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $24.85, for a total value of $1,565,550.00. Following the transaction, the executive vice president now directly owns 219,166 shares in the company, valued at $5,446,275.10. This trade represents a 22.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 199,000 shares of company stock valued at $4,878,810. 3.20% of the stock is currently owned by corporate 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.