Virginia Retirement Systems ET AL Has $297,000 Stake in Photronics, Inc. (PLAB)
Virginia Retirement Systems ET AL lifted its holdings in Photronics, Inc. (NASDAQ:PLAB) by 57.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,600 shares of the semiconductor company’s stock after acquiring an additional 11,500 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Photronics were worth $297,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in PLAB. Federated Investors Inc. PA boosted its holdings in shares of Photronics by 61.9% in the 2nd quarter. Federated Investors Inc. PA now owns 10,991 shares of the semiconductor company’s stock worth $103,000 after acquiring an additional 4,203 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Photronics by 78.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,302 shares of the semiconductor company’s stock worth $125,000 after acquiring an additional 5,844 shares in the last quarter. Palouse Capital Management Inc. acquired a new position in shares of Photronics in the 2nd quarter worth approximately $144,000. Stevens Capital Management LP acquired a new position in shares of Photronics in the 1st quarter worth approximately $145,000. Finally, Legal & General Group Plc boosted its holdings in shares of Photronics by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 15,818 shares of the semiconductor company’s stock worth $149,000 after acquiring an additional 679 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.
Photronics, Inc. (NASDAQ:PLAB) opened at 7.75 on Monday. Photronics, Inc. has a one year low of $7.55 and a one year high of $12.10. The firm has a market capitalization of $531.07 million, a P/E ratio of 40.79 and a beta of 0.52. The stock has a 50 day moving average price of $8.86 and a 200 day moving average price of $10.13.
Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Monday, August 14th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $111.60 million during the quarter, compared to the consensus estimate of $115.14 million. Photronics had a net margin of 2.97% and a return on equity of 1.34%. During the same period last year, the business earned $0.12 earnings per share. On average, equities analysts predict that Photronics, Inc. will post $0.19 EPS for the current fiscal year.
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Several research analysts have recently commented on PLAB shares. Zacks Investment Research downgraded Photronics from a “hold” rating to a “sell” rating in a report on Friday, May 19th. ValuEngine raised Photronics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub raised Photronics from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Photronics has an average rating of “Hold” and a consensus target price of $12.00.
In other Photronics news, VP Christopher J. Progler sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $10.05, for a total transaction of $40,200.00. Following the sale, the vice president now owns 78,900 shares of the company’s stock, valued at $792,945. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.71% of the company’s stock.
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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