Photronics, Inc. (NASDAQ:PLAB) Holdings Raised by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,015 shares of the semiconductor company’s stock after acquiring an additional 1,333 shares during the period. Exchange Traded Concepts LLC’s holdings in Photronics were worth $1,343,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Barclays PLC boosted its position in Photronics by 297.2% during the third quarter. Barclays PLC now owns 114,133 shares of the semiconductor company’s stock valued at $2,826,000 after purchasing an additional 85,397 shares during the last quarter. Geode Capital Management LLC grew its stake 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 valued at $43,217,000 after buying an additional 85,160 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Photronics in the second quarter worth approximately $1,603,000. Easterly Investment Partners LLC increased its holdings in Photronics by 17.8% in the third quarter. Easterly Investment Partners LLC now owns 411,188 shares of the semiconductor company’s stock worth $10,181,000 after buying an additional 62,201 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Photronics by 20.8% during the second quarter. AQR Capital Management LLC now owns 336,745 shares of the semiconductor company’s stock valued at $8,307,000 after acquiring an additional 58,080 shares in the last quarter. 88.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, DA Davidson increased their price target on shares of Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th.

Insiders Place Their Bets

In other news, CEO Kang Jyh Lee sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $25.27, for a total transaction of $505,400.00. Following the completion of the transaction, the chief executive officer now directly owns 524,600 shares in the company, valued at $13,256,642. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Han Kyung Park sold 11,250 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $23.80, for a total value of $267,750.00. Following the completion of the sale, the senior vice president now directly owns 102,500 shares of the company’s stock, valued at $2,439,500. This represents a 9.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 199,000 shares of company stock valued at $4,878,810 in the last quarter. Insiders own 3.88% of the company’s stock.

Photronics Stock Performance

PLAB opened at $22.63 on Tuesday. The company has a market cap of $1.43 billion, a PE ratio of 10.83 and a beta of 1.39. The stock has a 50-day moving average of $24.56 and a 200-day moving average of $24.25. Photronics, Inc. has a 52-week low of $20.25 and a 52-week high of $34.16.

Photronics (NASDAQ:PLAB) last announced its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The firm had revenue of $222.60 million during the quarter, compared to analysts’ expectations of $218.00 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. On average, research analysts predict that Photronics, Inc. will post 2.3 earnings per share for the current year.

Photronics Profile

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.