SG Americas Securities LLC lifted its holdings in shares of Photronics, Inc. (NASDAQ:PLAB – Get Rating) by 323.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,488 shares of the semiconductor company’s stock after buying an additional 40,859 shares during the period. SG Americas Securities LLC owned approximately 0.09% of Photronics worth $908,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in PLAB. Counterpoint Mutual Funds LLC acquired a new stake in shares of Photronics during the 1st quarter valued at approximately $63,000. Denali Advisors LLC increased its stake in shares of Photronics by 69.7% during the 1st quarter. Denali Advisors LLC now owns 5,600 shares of the semiconductor company’s stock worth $95,000 after purchasing an additional 2,300 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new position in shares of Photronics during the 4th quarter worth approximately $189,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Photronics by 76.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,320 shares of the semiconductor company’s stock worth $195,000 after purchasing an additional 4,487 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Photronics by 15.4% during the 4th quarter. Teacher Retirement System of Texas now owns 11,795 shares of the semiconductor company’s stock worth $222,000 after purchasing an additional 1,572 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.
Insiders Place Their Bets
In other Photronics news, Director Mitchell G. Tyson sold 2,000 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $19.08, for a total value of $38,160.00. Following the transaction, the director now owns 68,379 shares in the company, valued at approximately $1,304,671.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is currently owned by company insiders.
Photronics Stock Performance
Photronics (NASDAQ:PLAB – Get Rating) last posted its earnings results on Wednesday, May 25th. The semiconductor company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.14. The business had revenue of $204.50 million for the quarter, compared to analyst estimates of $192.37 million. Photronics had a net margin of 12.03% and a return on equity of 8.45%. The business’s quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 EPS. As a group, equities research analysts expect that Photronics, Inc. will post 1.9 earnings per share for the current fiscal year.
Analyst Ratings Changes
PLAB has been the subject of several recent analyst reports. Stifel Nicolaus lifted their target price on shares of Photronics from $21.00 to $23.00 in a research note on Wednesday, May 25th. Northland Securities lifted their price target on shares of Photronics from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, May 26th. Finally, DA Davidson reiterated a “buy” rating on shares of Photronics in a report on Wednesday, July 27th.
Photronics Company Profile
Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, Korea, Europe, China, and internationally. The company offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, FDP substrates, and other types of electrical and optical components.
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