Ameriprise Financial Inc. decreased its position in shares of Photronics Inc. (NASDAQ:PLAB) by 17.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 576,773 shares of the company’s stock after selling 122,820 shares during the period. Ameriprise Financial Inc. owned 0.85% of Photronics worth $5,140,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Trust Investment Advisors increased its position in Photronics by 0.3% in the second quarter. Trust Investment Advisors now owns 48,800 shares of the company’s stock worth $435,000 after buying an additional 150 shares in the last quarter. Swiss National Bank increased its position in Photronics by 2.6% in the second quarter. Swiss National Bank now owns 108,700 shares of the company’s stock worth $969,000 after buying an additional 2,800 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Photronics by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,697,653 shares of the company’s stock worth $17,673,000 after buying an additional 6,230 shares in the last quarter. Magnetar Financial LLC increased 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 in the last quarter. Finally, Acrospire Investment Management LLC acquired a new position in Photronics during the first quarter worth about $116,000. Hedge funds and other institutional investors own 98.92% of the company’s stock.
Photronics Inc. (NASDAQ:PLAB) traded down 0.78% during midday trading on Friday, reaching $10.18. 173,480 shares of the company were exchanged. The firm has a 50-day moving average price of $10.11 and a 200-day moving average price of $9.85. Photronics Inc. has a 52 week low of $8.56 and a 52 week high of $13.05. The company has a market capitalization of $694.13 million, a PE ratio of 12.49 and a beta of 0.85.
Photronics (NASDAQ:PLAB) last issued its earnings results on Thursday, August 18th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.02. Photronics had a return on equity of 6.07% and a net margin of 11.50%. The firm had revenue of $123.20 million for the quarter, compared to analysts’ expectations of $123.54 million. During the same period last year, the firm earned $0.17 earnings per share. Photronics’s revenue for the quarter was down 6.5% on a year-over-year basis. Equities research analysts anticipate that Photronics Inc. will post $0.55 earnings per share for the current fiscal year.
A number of research firms have recently issued reports on PLAB. Zacks Investment Research upgraded shares of Photronics from a “sell” rating to a “hold” rating in a research note on Thursday, September 1st. SunTrust Banks Inc. set a $12.00 price objective on shares of Photronics and gave the company a “buy” rating in a research note on Tuesday, October 4th. Finally, DA Davidson reiterated a “buy” rating and set a $15.00 price objective on shares of Photronics in a research note on Monday, August 22nd.
In other news, Director Walter M. Fiederowicz sold 21,250 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $9.95, for a total value of $211,437.50. Following the sale, the director now directly owns 42,250 shares of the company’s stock, valued at approximately $420,387.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph A. Fiorita, Jr. sold 12,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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. 4.12% of the stock is currently owned by insiders.
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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