Oppenheimer & Co. Inc. purchased a new position in shares of Photronics, Inc. (NASDAQ:PLAB – Get Rating) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,497 shares of the semiconductor company’s stock, valued at approximately $321,000.
A number of other institutional investors and hedge funds have also made changes to their positions in PLAB. BlackRock Inc. increased its position in Photronics by 0.8% in the 1st quarter. BlackRock Inc. now owns 9,805,463 shares of the semiconductor company’s stock valued at $166,400,000 after acquiring an additional 78,778 shares during the period. Vanguard Group Inc. increased its position in Photronics by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 4,362,274 shares of the semiconductor company’s stock valued at $74,028,000 after acquiring an additional 122,925 shares during the period. Invesco Ltd. increased its position in Photronics by 56.6% in the 1st quarter. Invesco Ltd. now owns 823,238 shares of the semiconductor company’s stock valued at $13,970,000 after acquiring an additional 297,595 shares during the period. Charles Schwab Investment Management Inc. increased its position in Photronics by 2.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 761,500 shares of the semiconductor company’s stock valued at $12,923,000 after acquiring an additional 16,625 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its position in Photronics by 0.9% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 637,466 shares of the semiconductor company’s stock valued at $10,818,000 after acquiring an additional 5,894 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently commented on PLAB shares. DA Davidson lowered their target price on Photronics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, August 31st. StockNews.com lowered Photronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 15th.
Photronics Stock Performance
Photronics (NASDAQ:PLAB – Get Rating) last issued its quarterly earnings results on Tuesday, August 30th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $219.90 million during the quarter, compared to analyst estimates of $210.00 million. Photronics had a return on equity of 9.97% and a net margin of 13.07%. The firm’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the company posted $0.22 EPS. Research analysts forecast that Photronics, Inc. will post 1.84 EPS for the current fiscal year.
Insider Buying and Selling at Photronics
In other news, Director Mitchell G. Tyson sold 2,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $15.00, for a total transaction of $30,000.00. Following the completion of the sale, the director now directly owns 62,379 shares of the company’s stock, valued at approximately $935,685. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.
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.
- Get a free copy of the StockNews.com research report on Photronics (PLAB)
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