New York State Teachers Retirement System lifted its holdings in shares of Photronics Inc (NASDAQ:PLAB) by 38.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,491 shares of the semiconductor company’s stock after acquiring an additional 9,900 shares during the quarter. New York State Teachers Retirement System owned 0.05% of Photronics worth $293,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Aperio Group LLC bought a new stake in Photronics in the fourth quarter valued at about $110,000. State of Alaska Department of Revenue bought a new stake in Photronics in the fourth quarter valued at about $116,000. Crossmark Global Holdings Inc. bought a new stake in Photronics in the fourth quarter valued at about $164,000. Ellington Management Group LLC bought a new stake in Photronics in the fourth quarter valued at about $190,000. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Photronics in the fourth quarter valued at about $202,000. 98.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of Photronics opened at $8.40 on Friday, Marketbeat reports. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.59 and a quick ratio of 5.28. Photronics Inc has a 52 week low of $8.05 and a 52 week high of $8.13. The company has a market capitalization of $559.03 million, a price-to-earnings ratio of 44.21, a P/E/G ratio of 2.11 and a beta of 0.51.
Photronics (NASDAQ:PLAB) last issued its earnings results on Wednesday, February 14th. The semiconductor company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.03. Photronics had a return on equity of 1.96% and a net margin of 3.68%. The company had revenue of $123.40 million during the quarter, compared to the consensus estimate of $114.13 million. During the same period in the previous year, the firm posted $0.03 earnings per share. Photronics’s quarterly revenue was up 12.4% compared to the same quarter last year. analysts predict that Photronics Inc will post 0.38 earnings per share for the current fiscal year.
Several analysts recently weighed in on PLAB shares. BidaskClub lowered Photronics from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 30th. ValuEngine lowered Photronics from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a research note on Friday, February 16th.
In other news, Director Walter M. Fiederowicz sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 11th. The stock was sold at an average price of $8.27, for a total transaction of $49,620.00. Following the completion of the transaction, the director now directly owns 39,000 shares in the company, valued at $322,530. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Constantine S. Macricostas sold 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $7.73, for a total value of $3,092,000.00. Following the transaction, the director now owns 692,575 shares of the company’s stock, valued at $5,353,604.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 416,580 shares of company stock valued at $3,226,488. 3.73% of the stock is currently owned by insiders.
Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.
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