Virtu Financial LLC Invests $288,000 in Photronics, Inc. (NASDAQ:PLAB)

Virtu Financial LLC purchased a new stake in Photronics, Inc. (NASDAQ:PLAB - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 12,228 shares of the semiconductor company's stock, valued at approximately $288,000.

Other large investors have also recently made changes to their positions in the company. State Street Corp grew its stake in Photronics by 0.4% in the third quarter. State Street Corp now owns 2,368,450 shares of the semiconductor company's stock valued at $58,643,000 after purchasing an additional 10,590 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Photronics by 5.1% in 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 buying an additional 85,160 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Photronics by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,007,582 shares of the semiconductor company's stock worth $23,739,000 after buying an additional 40,579 shares during the last quarter. Boston Partners lifted its position in Photronics by 45.3% during the fourth quarter. Boston Partners now owns 799,439 shares of the semiconductor company's stock valued at $18,893,000 after acquiring an additional 249,222 shares during the last quarter. Finally, Needham Investment Management LLC lifted its position in Photronics by 6.7% during the third quarter. Needham Investment Management LLC now owns 762,500 shares of the semiconductor company's stock valued at $18,880,000 after acquiring an additional 48,200 shares during the last quarter. 88.38% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, Director Walter M. Fiederowicz sold 10,000 shares of the company'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 transaction, the director now directly owns 29,548 shares of the company's stock, valued at $639,123.24. This represents a 25.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kang Jyh Lee sold 17,500 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $24.10, for a total value of $421,750.00. Following the completion of the transaction, the chief executive officer now owns 510,850 shares of the company's stock, valued at $12,311,485. This trade represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,500 shares of company stock valued at $1,829,138. Insiders own 3.20% of the company's stock.

Photronics Stock Performance

NASDAQ:PLAB traded down $0.38 during mid-day trading on Tuesday, hitting $20.38. 525,680 shares of the company's stock traded hands, compared to its average volume of 483,087. The company has a fifty day moving average of $21.79 and a 200 day moving average of $23.44. Photronics, Inc. has a twelve month low of $19.61 and a twelve month high of $31.60. The company has a market capitalization of $1.30 billion, a P/E ratio of 9.75 and a beta of 1.43.

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 (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. The firm had revenue of $212.14 million for the quarter, compared to the consensus estimate of $210.00 million. Photronics had a net margin of 15.07% and a return on equity of 9.10%. During the same quarter in the prior year, the company posted $0.48 earnings per share. On average, research analysts expect that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

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.