Photronics, Inc. (NASDAQ:PLAB) Shares Bought by Truvestments Capital LLC

Truvestments Capital LLC boosted its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 33.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,804 shares of the semiconductor company’s stock after buying an additional 10,199 shares during the period. Truvestments Capital LLC owned 0.06% of Photronics worth $961,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PLAB. Four Tree Island Advisory LLC acquired a new position in Photronics during the fourth quarter worth approximately $3,472,000. Barclays PLC increased its position in Photronics by 297.2% during the third quarter. Barclays PLC now owns 114,133 shares of the semiconductor company’s stock worth $2,826,000 after buying an additional 85,397 shares during the period. Geode Capital Management LLC increased its position in Photronics by 5.1% during the third quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock worth $43,217,000 after buying an additional 85,160 shares during the period. Hodges Capital Management Inc. increased its position in Photronics by 38.4% during the fourth quarter. Hodges Capital Management Inc. now owns 210,975 shares of the semiconductor company’s stock worth $4,970,000 after buying an additional 58,590 shares during the period. Finally, Denali Advisors LLC acquired a new position in Photronics during the fourth quarter worth approximately $1,319,000. Institutional investors and hedge funds own 88.38% of the company’s stock.

Photronics Trading Down 0.6 %

NASDAQ:PLAB opened at $20.80 on Wednesday. The stock’s 50 day simple moving average is $22.67 and its 200-day simple moving average is $23.70. Photronics, Inc. has a 12-month low of $19.61 and a 12-month high of $31.60. The firm has a market cap of $1.32 billion, a P/E ratio of 9.95 and a beta of 1.43.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $212.14 million for the quarter, compared to the consensus estimate of $210.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. During the same period in the prior year, the business earned $0.48 earnings per share. Research analysts forecast that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, DA Davidson boosted their target price on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, December 12th.

Insider Buying and Selling

In other news, Director Adam M. Lewis sold 19,750 shares of Photronics stock in a transaction on Friday, December 20th. The stock was sold at an average price of $24.11, for a total transaction of $476,172.50. Following the transaction, the director now owns 22,250 shares in the company, valued at approximately $536,447.50. The trade was a 47.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christopher J. Progler sold 63,000 shares of Photronics stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $24.85, for a total value of $1,565,550.00. Following the transaction, the executive vice president now owns 219,166 shares in the company, valued at $5,446,275.10. This represents a 22.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,000 shares of company stock valued at $5,087,810. Insiders own 3.20% of the company’s stock.

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, 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.