Prudential Financial Inc. Has $5.24 Million Stock Position in Photronics, Inc. (NASDAQ:PLAB)

Prudential Financial Inc. boosted its holdings in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) by 55.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 222,429 shares of the semiconductor company's stock after acquiring an additional 79,175 shares during the period. Prudential Financial Inc. owned about 0.35% of Photronics worth $5,240,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings 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 acquiring an additional 762 shares during the last quarter. Parkside Financial Bank & Trust raised 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 valued at $54,000 after acquiring an additional 904 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Photronics by 17.6% during the fourth quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company's stock worth $81,000 after purchasing an additional 516 shares during the period. KBC Group NV grew its holdings in shares of Photronics by 76.8% during the fourth quarter. KBC Group NV now owns 3,467 shares of the semiconductor company's stock valued at $82,000 after purchasing an additional 1,506 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in shares of Photronics during the fourth quarter valued at $110,000. 88.38% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Photronics

In related news, CEO Kang Jyh Lee sold 17,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total transaction of $421,750.00. Following the sale, the chief executive officer now owns 510,850 shares in the company, 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 SEC, which is accessible through this link. Also, SVP Han Kyung Park sold 11,250 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $24.63, for a total transaction of $277,087.50. Following the transaction, the senior vice president now owns 118,000 shares of the company's stock, valued at approximately $2,906,340. This represents a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,500 shares of company stock worth $1,829,138 in the last ninety days. Company insiders own 3.20% of the company's stock.

Photronics Price Performance

NASDAQ:PLAB traded up $0.14 during midday trading on Wednesday, reaching $20.52. The stock had a trading volume of 478,666 shares, compared to its average volume of 482,974. Photronics, Inc. has a 1-year low of $19.61 and a 1-year high of $31.60. The stock has a market capitalization of $1.30 billion, a P/E ratio of 9.82 and a beta of 1.43. The firm's fifty day simple moving average is $21.79 and its 200-day simple moving average is $23.44.

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 the consensus estimate of $0.47 by $0.05. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The business had revenue of $212.14 million during the quarter, compared to the consensus estimate of $210.00 million. During the same quarter last year, the company earned $0.48 EPS. On average, equities research analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, DA Davidson upped their price target on shares of Photronics from $32.00 to $35.00 and gave the stock a "buy" rating in a research note 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.