California Public Employees Retirement System raised its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 744,108 shares of the semiconductor company’s stock after purchasing an additional 23,908 shares during the period. California Public Employees Retirement System owned approximately 1.08% of Photronics worth $6,585,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in PLAB. Legal & General Group Plc increased its holdings in shares of Photronics by 4.5% during the second quarter. Legal & General Group Plc now owns 15,818 shares of the semiconductor company’s stock worth $149,000 after buying an additional 679 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Photronics by 5.1% in the second quarter. Principal Financial Group Inc. now owns 14,915 shares of the semiconductor company’s stock valued at $140,000 after purchasing an additional 720 shares during the period. Engineers Gate Manager LP increased its holdings in Photronics by 5.7% in the second quarter. Engineers Gate Manager LP now owns 27,627 shares of the semiconductor company’s stock valued at $260,000 after purchasing an additional 1,481 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Photronics by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 52,194 shares of the semiconductor company’s stock valued at $491,000 after purchasing an additional 1,579 shares during the period. Finally, NorthCoast Asset Management LLC increased its holdings in Photronics by 2.7% in the second quarter. NorthCoast Asset Management LLC now owns 66,429 shares of the semiconductor company’s stock valued at $624,000 after purchasing an additional 1,733 shares during the period. Institutional investors and hedge funds own 94.49% of the company’s stock.
In related news, VP Christopher J. Progler sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $9.55, for a total value of $38,200.00. Following the completion of the transaction, the vice president now directly owns 78,900 shares of the company’s stock, valued at approximately $753,495. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richelle E. Burr sold 3,000 shares of the firm’s stock in a transaction that occurred 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 directly 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 90 days, insiders have sold 69,750 shares of company stock valued at $648,075. 3.71% of the stock is currently owned by company insiders.
Photronics, Inc. (NASDAQ:PLAB) opened at $8.40 on Thursday. The company has a current ratio of 5.49, a quick ratio of 5.20 and a debt-to-equity ratio of 0.07. Photronics, Inc. has a 1 year low of $7.55 and a 1 year high of $11.95. The stock has a market cap of $590.40, a PE ratio of 44.21, a PEG ratio of 2.17 and a beta of 0.55.
Photronics (NASDAQ:PLAB) last posted its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The firm had revenue of $121.00 million during the quarter, compared to analyst estimates of $112.17 million. Photronics had a net margin of 2.91% and a return on equity of 1.55%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. research analysts forecast that Photronics, Inc. will post 0.4 earnings per share for the current fiscal year.
A number of analysts have commented on PLAB shares. DA Davidson reaffirmed a “buy” rating and set a $13.00 price target on shares of Photronics in a research report on Monday, November 27th. Zacks Investment Research raised shares of Photronics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, BidaskClub cut shares of Photronics from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th.
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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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