Proficio Capital Partners LLC Takes $398,000 Position in Photronics, Inc. (NASDAQ:PLAB)

Proficio Capital Partners LLC purchased a new stake in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,893 shares of the semiconductor company's stock, valued at approximately $398,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Creative Planning bought a new stake in Photronics in the 3rd quarter worth about $250,000. US Bancorp DE boosted its position in Photronics by 137.2% in the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 701 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Photronics by 21.9% in the third quarter. Farther Finance Advisors LLC now owns 5,930 shares of the semiconductor company's stock worth $147,000 after purchasing an additional 1,066 shares during the last quarter. Victory Capital Management Inc. boosted its position in Photronics by 4.9% in the third quarter. Victory Capital Management Inc. now owns 530,401 shares of the semiconductor company's stock worth $13,133,000 after purchasing an additional 24,834 shares during the last quarter. Finally, Royce & Associates LP boosted its position in Photronics by 1.7% in the third quarter. Royce & Associates LP now owns 746,606 shares of the semiconductor company's stock worth $18,486,000 after purchasing an additional 12,603 shares during the last quarter. 88.38% of the stock is currently owned by institutional investors.

Photronics Price Performance

Shares of PLAB stock traded up $0.50 during trading hours on Friday, reaching $21.26. 603,902 shares of the company traded hands, compared to its average volume of 452,922. Photronics, Inc. has a 12-month low of $19.61 and a 12-month high of $31.60. The company has a market cap of $1.35 billion, a P/E ratio of 10.17 and a beta of 1.43. The firm has a 50-day moving average price of $22.55 and a 200 day moving average price of $23.66.

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Photronics (NASDAQ:PLAB - Get Free Report) last posted 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. Photronics had a return on equity of 9.10% and a net margin of 15.07%. 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 previous year, the firm earned $0.48 EPS. Sell-side analysts predict that Photronics, Inc. will post 2.3 EPS for the current year.

Insider Buying and Selling

In related news, EVP Christopher J. Progler sold 63,000 shares of the business's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $24.85, for a total value of $1,565,550.00. Following the transaction, the executive vice president now directly owns 219,166 shares of the company's stock, valued at approximately $5,446,275.10. The trade was a 22.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kang Jyh Lee sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $20.90, for a total value of $209,000.00. Following the completion of the transaction, the chief executive officer now directly owns 552,100 shares in the company, valued at approximately $11,538,890. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,000 shares of company stock valued at $5,087,810. Corporate insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

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

About Photronics

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.