Raymond James Financial Inc. Takes Position in Photronics, Inc. (NASDAQ:PLAB)

Raymond James Financial Inc. purchased a new stake in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 51,184 shares of the semiconductor company's stock, valued at approximately $1,206,000. Raymond James Financial Inc. owned about 0.08% of Photronics at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its stake in Photronics by 216.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 762 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Photronics by 65.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company's stock valued at $54,000 after purchasing an additional 904 shares during the period. GAMMA Investing LLC boosted its position in shares of Photronics by 17.6% during the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company's stock worth $81,000 after purchasing an additional 516 shares in the last quarter. KBC Group NV grew its stake in shares of Photronics by 76.8% in the 4th quarter. KBC Group NV now owns 3,467 shares of the semiconductor company's stock valued at $82,000 after buying an additional 1,506 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Photronics in the 3rd quarter valued at about $112,000. 88.38% of the stock is owned by institutional investors.

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Photronics Stock Down 0.8 %

PLAB stock traded down $0.14 during midday trading on Monday, reaching $17.37. 1,085,570 shares of the company's stock traded hands, compared to its average volume of 490,182. The firm's fifty day moving average price is $21.40 and its 200-day moving average price is $23.30. Photronics, Inc. has a 52 week low of $15.71 and a 52 week high of $31.60. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 8.31 and a beta of 1.40.

Photronics (NASDAQ:PLAB - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $210.00 million. During the same period in the previous year, the company posted $0.48 EPS. Analysts forecast that Photronics, Inc. will post 2.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at Photronics

In related news, SVP Han Kyung Park sold 11,250 shares of the 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 completion of the sale, the senior vice president now directly owns 118,000 shares of the company's stock, valued at approximately $2,906,340. This trade represents a 8.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Walter M. Fiederowicz sold 10,000 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $21.63, for a total value of $216,300.00. Following the completion of the transaction, the director now directly owns 29,548 shares in the company, valued at approximately $639,123.24. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 45,000 shares of company stock valued at $1,011,688. 3.20% of the stock is owned by 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.