Picton Mahoney Asset Management Buys 8,004 Shares of Photronics, Inc. (NASDAQ:PLAB)

Picton Mahoney Asset Management grew its stake in Photronics, Inc. (NASDAQ:PLAB) by 51.3% during the 4th quarter, HoldingsChannel reports. The firm owned 23,604 shares of the semiconductor company’s stock after acquiring an additional 8,004 shares during the quarter. Picton Mahoney Asset Management’s holdings in Photronics were worth $556,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. M&T Bank Corp acquired a new position in shares of Photronics in the 3rd quarter worth approximately $252,000. 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 worth $43,217,000 after acquiring an additional 85,160 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Photronics by 4.9% in the 3rd quarter. Victory Capital Management Inc. now owns 530,401 shares of the semiconductor company’s stock worth $13,133,000 after acquiring an additional 24,834 shares in the last quarter. FMR LLC boosted its holdings in shares of Photronics by 36.0% in the 3rd quarter. FMR LLC now owns 135,208 shares of the semiconductor company’s stock worth $3,348,000 after acquiring an additional 35,825 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Photronics in the 4th quarter worth approximately $298,000. 88.38% of the stock is currently owned by institutional investors.

Photronics Price Performance

Shares of PLAB opened at $21.26 on Friday. The business’s 50 day simple moving average is $22.49 and its 200-day simple moving average is $23.64. Photronics, Inc. has a one year low of $19.61 and a one year high of $31.60. The company has a market capitalization of $1.35 billion, a P/E ratio of 10.17 and a beta of 1.43.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share (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 firm had revenue of $212.14 million for the quarter, compared to the consensus estimate of $210.00 million. During the same quarter in the prior year, the business earned $0.48 EPS. On average, sell-side analysts anticipate that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, DA Davidson boosted their target price on 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 other Photronics news, SVP Han Kyung Park sold 11,250 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $23.80, for a total transaction of $267,750.00. Following the transaction, the senior vice president now owns 102,500 shares of the company’s stock, valued at approximately $2,439,500. This represents a 9.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kang Jyh Lee sold 20,000 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $25.27, for a total value of $505,400.00. Following the transaction, the chief executive officer now directly owns 524,600 shares in the company, valued at approximately $13,256,642. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,000 shares of company stock valued at $5,087,810. 3.20% of the stock is currently owned by corporate insiders.

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.