Great West Life Assurance Co. Can held its position in Photronics Inc. (NASDAQ:PLAB) during the second quarter, Holdings Channel reports. The fund owned 11,239 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Photronics were worth $117,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PLAB. Acrospire Investment Management LLC acquired a new position in Photronics during the first quarter worth $116,000. Magnetar Financial LLC raised its position in Photronics by 67.4% in the first quarter. Magnetar Financial LLC now owns 17,804 shares of the company’s stock worth $185,000 after buying an additional 7,167 shares during the period. Mesirow Financial Investment Management US Value Equity acquired a new position in Photronics during the first quarter worth $189,000. Hancock Holding Co. acquired a new position in Photronics during the first quarter worth $707,000. Finally, Strs Ohio raised its position in Photronics by 22.4% in the second quarter. Strs Ohio now owns 80,900 shares of the company’s stock worth $720,000 after buying an additional 14,800 shares during the period. 98.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Photronics Inc. (NASDAQ:PLAB) remained flat at $10.23 during mid-day trading on Wednesday. 105,771 shares of the stock traded hands. Photronics Inc. has a 12 month low of $8.56 and a 12 month high of $13.05. The company has a 50-day moving average of $9.79 and a 200-day moving average of $9.80. The company has a market cap of $697.54 million, a P/E ratio of 12.55 and a beta of 1.08.
Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Thursday, August 18th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.02. The company had revenue of $123.20 million for the quarter, compared to analysts’ expectations of $123.54 million. Photronics had a net margin of 11.50% and a return on equity of 6.07%. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 earnings per share. On average, equities research analysts expect that Photronics Inc. will post $0.55 earnings per share for the current fiscal year.
PLAB has been the topic of a number of recent research reports. DA Davidson reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Photronics in a research note on Monday, August 22nd. Zacks Investment Research upgraded shares of Photronics from a “sell” rating to a “hold” rating in a report on Saturday, July 23rd. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $12.80.
In other Photronics news, Director Walter M. Fiederowicz sold 21,250 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $9.95, for a total transaction of $211,437.50. Following the transaction, the director now directly owns 42,250 shares of the company’s stock, valued at approximately $420,387.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph A. Fiorita, Jr. sold 12,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $10.00, for a total transaction of $120,000.00. Following the transaction, the director now directly owns 161,100 shares in the company, valued at $1,611,000. The disclosure for this sale can be found here. Company insiders own 4.12% of the company’s stock.
Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. The Company supports customers across the full spectrum of integrated circuit (IC) production and flat panel display (FPD) technologies by manufacturing photomasks using electron beam or optical (laser-based) systems.
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