Engineers Gate Manager LP raised its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 101.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,684 shares of the semiconductor company’s stock after acquiring an additional 28,057 shares during the quarter. Engineers Gate Manager LP owned about 0.08% of Photronics worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Federated Investors Inc. PA raised its holdings in Photronics by 61.9% during the 2nd quarter. Federated Investors Inc. PA now owns 10,991 shares of the semiconductor company’s stock valued at $103,000 after acquiring an additional 4,203 shares during the period. Emerald Mutual Fund Advisers Trust bought a new stake in Photronics during the 3rd quarter valued at $114,000. BNP Paribas Arbitrage SA raised its holdings in Photronics by 78.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,302 shares of the semiconductor company’s stock valued at $125,000 after acquiring an additional 5,844 shares during the period. Neuberger Berman Group LLC bought a new stake in Photronics during the 2nd quarter valued at $131,000. Finally, Airain ltd bought a new stake in Photronics during the 2nd quarter valued at $137,000. 94.71% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Richelle E. Burr sold 4,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $9.00, for a total value of $36,000.00. Following the completion of the transaction, the vice president now directly owns 41,109 shares in the company, valued at $369,981. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richelle E. Burr sold 3,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $9.00, for a total transaction of $27,000.00. Following the completion of the transaction, the vice president now owns 45,109 shares of the company’s stock, valued at $405,981. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,000 shares of company stock worth $834,288. Insiders own 3.71% of the company’s stock.
Several research firms have recently weighed in on PLAB. Zacks Investment Research raised shares of Photronics from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. DA Davidson reaffirmed a “buy” rating and issued a $13.00 price target on shares of Photronics in a report on Monday, November 27th. Finally, BidaskClub cut shares of Photronics from a “hold” rating to a “sell” rating in a report on Tuesday.
Photronics, Inc. (PLAB) opened at $8.70 on Friday. The firm has a market cap of $592.87, a price-to-earnings ratio of 43.00, a PEG ratio of 2.15 and a beta of 0.53. Photronics, Inc. has a 1-year low of $7.55 and a 1-year high of $12.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.49 and a quick ratio of 5.20.
Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The firm had revenue of $121.00 million for the quarter, compared to analysts’ expectations of $112.17 million. Photronics had a net margin of 2.91% and a return on equity of 1.55%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. research analysts expect that Photronics, Inc. will post 0.4 EPS for the current year.
Photronics Company Profile
Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. As of October 30, 2016, the Company operated principally from nine manufacturing facilities: two located in Europe, three in Taiwan, one in Korea and three in the United States.
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