Qube Research & Technologies Ltd lessened its holdings in Photronics, Inc. (NASDAQ: PLAB – Get Rating) by 29.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,201 shares of the semiconductor company stock after selling 8,890 shares during the quarter. Qube Research & Technologies Ltd’s holdings in Photronics were worth $ 400,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Geode Capital Management LLC grew its holdings in shares of Photronics by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,137,393 shares of the semiconductor company stock valued at $ 15,502,000 after buying an additional 36,126 shares during the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Photronics by 22.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 910,515 shares of the semiconductor company stock valued at $ 17,163,000 after buying an additional 165,230 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Photronics by 112.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 735,843 shares of the semiconductor company stock valued at $ 10,030,000 after buying an additional 389,693 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of Photronics by 19.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 669,000 shares of the semiconductor company stock valued at $ 9,118,000 after buying an additional 110,000 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Photronics during the fourth quarter valued at approximately $ 11,905,000. Institutional investors and hedge funds own 88.49% of the company stock.
PLAB opened at $ 21.74 on Wednesday. The company has a current ratio of 3.42, a quick ratio of 3.10 and a debt-to-equity ratio of 0.07. Photronics, Inc. has a 1-year low of $ 11.65 and a 1-year high of $ 22.11. The company has a market capitalization of $ 1.34 billion, a PE ratio of 14.69 and a beta of 0.98. The firm’s 50 day simple moving average is $ 16.25 and its two-hundred day simple moving average is $ 16.91.
Photronics (NASDAQ: PLAB – Get Rating) last released its quarterly earnings results on Wednesday, May 25th. The semiconductor company reported $ 0.49 earnings per share for the quarter, topping the estimate consensus of $ 0.35 by $ 0.14. Photronics had a net margin of 12.03% and a return on equity of 8.45%. The business had revenue of $ 204.50 million for the quarter, compared to the consensus estimate of $ 192.37 million. During the same period last year, the firm earned $ 0.17 earnings per share. The company quarterly revenue was up 28.0% on a year-over-year basis. Equities analysts forecast that Photronics, Inc. will post 1.73 earnings per share for the current fiscal year.
PLAB has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Photronics from $ 21.00 to $ 23.00 in a report on Wednesday, May 25th. DA Davidson raised their target price on shares of Photronics from $ 26.00 to $ 30.00 and gave the stock a “buy” rating in a report on Thursday, May 26th. StockNews.com started coverage on shares of Photronics in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Zacks Investment Research upgraded shares of Photronics from a “hold” rating to a “strong-buy” rating and set a $ 23.00 target price on the stock in a report on Tuesday. Finally, Northland Securities raised their target price on shares of Photronics from $ 25.00 to $ 26.00 and gave the stock an “outperform” rating in a report on Thursday, May 26th. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $ 25.50.
In other news, Director Mitchell G. Tyson sold 2,000 shares of the firm’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $ 17.00, for a total transaction of $ 34,000.00. Following the sale, the director now directly owns 74,379 shares in the company, valued at approximately $ 1,264,443. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher J. Progler sold 11,481 shares of the firm’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $ 16.54, for a total transaction of $ 189,895.74. Following the sale, the executive vice president now owns 159,593 shares in the company, valued at $ 2,639,668.22. The disclosure for this sale can be found here. Insiders have sold a total of 15,481 shares of company stock worth $ 253,896 over the last 90 days. Insiders own 3.70% of the company stock.
About Photronics: (Get Rating)
Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, Korea, Europe, China, and internationally. The company offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, FDP substrates, and other types of electrical and optical components.
Want to see what other hedge funds are holding PLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Photronics, Inc. (NASDAQ: PLAB – Get Rating).
Receive News & Ratings for Photronics Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Photronics and related companies with MarketBeat.com’s FREE daily email newsletter.