Ajo LP Buys New Holdings in Photronics, Inc. (PLAB)
Ajo LP bought a new stake in Photronics, Inc. (NASDAQ:PLAB) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 14,972 shares of the semiconductor company’s stock, valued at approximately $141,000.
Other large investors also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in Photronics in the first quarter valued at about $478,000. Victory Capital Management Inc. raised its position in Photronics by 1,665.8% in the second quarter. Victory Capital Management Inc. now owns 1,766,054 shares of the semiconductor company’s stock valued at $16,601,000 after purchasing an additional 1,666,037 shares during the period. Teachers Advisors LLC raised its position in Photronics by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 106,153 shares of the semiconductor company’s stock valued at $1,200,000 after purchasing an additional 2,560 shares during the period. Swiss National Bank raised its position in Photronics by 3.4% in the first quarter. Swiss National Bank now owns 112,400 shares of the semiconductor company’s stock valued at $1,203,000 after purchasing an additional 3,700 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Photronics by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 1,803,629 shares of the semiconductor company’s stock valued at $19,300,000 after purchasing an additional 45,821 shares during the period. 96.01% of the stock is currently owned by institutional investors.
In related news, VP Christopher J. Progler sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $10.05, for a total value of $40,200.00. Following the completion of the sale, the vice president now directly owns 78,900 shares in the company, valued at $792,945. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.71% of the company’s stock.
Several research analysts have commented on PLAB shares. BidaskClub raised Photronics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. ValuEngine raised Photronics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research lowered Photronics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.00.
Photronics, Inc. (PLAB) opened at 7.95 on Friday. The stock has a market capitalization of $548.06 million, a price-to-earnings ratio of 42.06 and a beta of 0.52. The firm has a 50-day moving average price of $8.42 and a 200 day moving average price of $9.97. Photronics, Inc. has a 52-week low of $7.55 and a 52-week high of $12.10.
Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Monday, August 14th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). The business had revenue of $111.60 million during the quarter, compared to the consensus estimate of $115.14 million. Photronics had a return on equity of 1.33% and a net margin of 2.97%. During the same quarter in the prior year, the company posted $0.12 earnings per share. On average, equities research analysts predict that Photronics, Inc. will post $0.19 EPS for the current year.
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Photronics Company Profile
Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. As of October 30, 2016, the Company operated principally from nine manufacturing facilities: two located in Europe, three in Taiwan, one in Korea and three in the United States.
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