Proficio Capital Partners LLC Acquires New Position in Photronics, Inc. (NASDAQ:PLAB)

Proficio Capital Partners LLC purchased a new position in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 16,893 shares of the semiconductor company's stock, valued at approximately $398,000.

Other large investors also recently modified their holdings of the company. LVZ Inc. increased its holdings in shares of Photronics by 25.3% in the 4th quarter. LVZ Inc. now owns 22,807 shares of the semiconductor company's stock valued at $537,000 after acquiring an additional 4,604 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Photronics by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,007,582 shares of the semiconductor company's stock valued at $23,739,000 after purchasing an additional 40,579 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Photronics by 216.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 762 shares during the last quarter. Illumine Investment Management LLC acquired a new stake in Photronics during the fourth quarter worth approximately $650,000. Finally, Parkside Financial Bank & Trust lifted its position in shares of Photronics by 65.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company's stock worth $54,000 after buying an additional 904 shares during the last quarter. 88.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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Photronics Trading Down 3.2 %

Shares of Photronics stock traded down $0.68 on Friday, hitting $20.60. The stock had a trading volume of 652,276 shares, compared to its average volume of 481,004. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 9.86 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's 50 day moving average price is $21.94 and its 200 day moving average price is $23.48.

Photronics (NASDAQ:PLAB - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.05. The company had revenue of $212.14 million during the quarter, compared to analysts' expectations of $210.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. During the same quarter in the previous year, the business earned $0.48 earnings per share. Analysts predict that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other Photronics news, CEO Kang Jyh Lee sold 17,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $24.10, for a total transaction of $421,750.00. Following the completion of the sale, the chief executive officer now directly owns 510,850 shares of the company's stock, valued at approximately $12,311,485. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Walter M. Fiederowicz sold 10,000 shares of Photronics stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $24.13, for a total value of $241,300.00. Following the completion of the transaction, the director now owns 32,000 shares in the company, valued at $772,160. This trade represents a 23.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,500 shares of company stock valued at $1,829,138. Insiders own 3.20% of the company's stock.

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.