Photronics, Inc. (NASDAQ:PLAB) Stock Position Increased by Barclays PLC

Barclays PLC boosted its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 297.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,133 shares of the semiconductor company’s stock after buying an additional 85,397 shares during the quarter. Barclays PLC owned 0.18% of Photronics worth $2,826,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PLAB. Louisiana State Employees Retirement System lifted its holdings in Photronics by 2.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the semiconductor company’s stock valued at $787,000 after acquiring an additional 900 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Photronics by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 511,962 shares of the semiconductor company’s stock valued at $12,630,000 after purchasing an additional 3,289 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Photronics by 21.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 171,743 shares of the semiconductor company’s stock worth $4,237,000 after buying an additional 30,888 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Photronics during the second quarter worth approximately $212,000. Finally, Innealta Capital LLC acquired a new position in Photronics in the second quarter worth approximately $75,000. 88.38% of the stock is owned by institutional investors and hedge funds.

Photronics Price Performance

PLAB stock opened at $24.19 on Wednesday. The company’s 50 day simple moving average is $24.59 and its 200-day simple moving average is $24.45. Photronics, Inc. has a 52-week low of $20.25 and a 52-week high of $34.16. The firm has a market capitalization of $1.53 billion, a P/E ratio of 11.57 and a beta of 1.41.

Photronics (NASDAQ:PLAB) last released its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The company had revenue of $222.60 million during the quarter, compared to analyst estimates of $218.00 million. During the same quarter in the prior year, the company earned $0.60 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts predict that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Adam M. Lewis sold 19,750 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $24.11, for a total transaction of $476,172.50. Following the completion of the sale, the director now directly owns 22,250 shares in the company, valued at approximately $536,447.50. This trade represents a 47.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kang Jyh Lee sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $25.27, for a total transaction of $505,400.00. Following the transaction, the chief executive officer now directly owns 524,600 shares in the company, valued at $13,256,642. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,750 shares of company stock worth $2,547,123. 3.88% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on PLAB. StockNews.com raised Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th. DA Davidson increased their price target on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, December 12th.

Photronics Profile

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates.