Royce & Associates LP reduced its holdings in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 696,828 shares of the semiconductor company's stock after selling 49,778 shares during the period. Royce & Associates LP owned about 1.10% of Photronics worth $16,417,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Four Tree Island Advisory LLC bought a new stake in Photronics during the fourth quarter valued at about $3,472,000. Barclays PLC grew its stake in shares of Photronics by 297.2% during the 3rd quarter. Barclays PLC now owns 114,133 shares of the semiconductor company's stock valued at $2,826,000 after acquiring an additional 85,397 shares during the period. Geode Capital Management LLC grew its stake in shares of Photronics by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company's stock valued at $43,217,000 after acquiring an additional 85,160 shares during the period. Hodges Capital Management Inc. increased its holdings in Photronics by 38.4% in the 4th quarter. Hodges Capital Management Inc. now owns 210,975 shares of the semiconductor company's stock worth $4,970,000 after acquiring an additional 58,590 shares in the last quarter. Finally, Denali Advisors LLC bought a new stake in Photronics during the 4th quarter worth approximately $1,319,000. 88.38% of the stock is currently owned by institutional investors.
Photronics Stock Performance
NASDAQ:PLAB traded up $0.27 during trading hours on Monday, reaching $21.53. The stock had a trading volume of 571,656 shares, compared to its average volume of 448,348. The stock has a market capitalization of $1.37 billion, a PE ratio of 10.30 and a beta of 1.43. Photronics, Inc. has a 52 week low of $19.61 and a 52 week high of $31.60. The company has a 50 day moving average price of $22.49 and a two-hundred day moving average price of $23.64.
Photronics (NASDAQ:PLAB - Get Free Report) last announced its earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The firm had revenue of $212.14 million for the quarter, compared to analysts' expectations of $210.00 million. During the same period in the prior year, the company earned $0.48 EPS. Equities research analysts predict that Photronics, Inc. will post 2.3 EPS for the current year.
Insider Buying and Selling at Photronics
In related news, SVP Han Kyung Park sold 11,250 shares of the company's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $23.80, for a total transaction of $267,750.00. Following the transaction, the senior vice president now directly owns 102,500 shares in the company, valued at approximately $2,439,500. This represents a 9.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christopher J. Progler sold 63,000 shares of the business's stock in a transaction that occurred 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 owns 219,166 shares of the company's stock, 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. Insiders have sold 209,000 shares of company stock worth $5,087,810 over the last quarter. Insiders own 3.20% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, DA Davidson raised their price target on Photronics from $32.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, December 12th.
Read Our Latest Analysis on Photronics
Photronics Profile
(
Free Report)
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.
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