Rice Hall James & Associates LLC reduced its stake in shares of Photronics Inc. (NASDAQ:PLAB) by 2.4% during the second quarter, Holdings Channel reports. The fund owned 125,840 shares of the company’s stock after selling 3,029 shares during the period. Rice Hall James & Associates LLC’s holdings in Photronics were worth $1,121,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC bought a new stake in Photronics during the first quarter valued at $116,000. Magnetar Financial LLC boosted its stake in Photronics by 67.4% in the first quarter. Magnetar Financial LLC now owns 17,804 shares of the company’s stock valued at $185,000 after buying an additional 7,167 shares during the last quarter. Mesirow Financial Investment Management US Value Equity bought a new stake in Photronics during the first quarter valued at $189,000. Hancock Holding Co. bought a new stake in Photronics during the first quarter valued at $707,000. Finally, Strs Ohio boosted its stake in Photronics by 22.4% in the second quarter. Strs Ohio now owns 80,900 shares of the company’s stock valued at $720,000 after buying an additional 14,800 shares during the last quarter. Institutional investors and hedge funds own 98.92% of the company’s stock.
Photronics Inc. (NASDAQ:PLAB) traded up 1.12% during mid-day trading on Monday, hitting $10.79. 201,635 shares of the stock traded hands. Photronics Inc. has a 52 week low of $8.56 and a 52 week high of $13.05. The firm’s 50-day moving average price is $9.93 and its 200-day moving average price is $9.83. The firm has a market cap of $735.73 million, a P/E ratio of 13.24 and a beta of 0.85.
Photronics (NASDAQ:PLAB) last announced its earnings results on Thursday, August 18th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by $0.02. The company had revenue of $123.20 million for the quarter, compared to the consensus estimate of $123.54 million. Photronics had a return on equity of 6.07% and a net margin of 11.50%. The business’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 EPS. On average, equities analysts forecast that Photronics Inc. will post $0.55 earnings per share for the current fiscal year.
PLAB has been the subject of several recent research reports. SunTrust Banks Inc. set a $12.00 price target on shares of Photronics and gave the stock a “buy” rating in a research report on Tuesday, October 4th. DA Davidson reissued a “buy” rating and issued a $15.00 price target on shares of Photronics in a research report on Monday, August 22nd. Finally, Zacks Investment Research raised shares of Photronics from a “sell” rating to a “hold” rating in a research report on Thursday, September 1st.
In other Photronics news, Director Walter M. Fiederowicz sold 21,250 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $9.95, for a total value of $211,437.50. Following the completion of the sale, the director now 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 accessible through the SEC website. Also, Director Joseph A. Fiorita, Jr. sold 12,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,611,000. The disclosure for this sale can be found here. Corporate insiders own 4.12% 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. 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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