GAMMA Investing LLC Has $81,000 Position in Photronics, Inc. (NASDAQ:PLAB)

GAMMA Investing LLC raised its position in Photronics, Inc. (NASDAQ:PLAB) by 17.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,448 shares of the semiconductor company’s stock after purchasing an additional 516 shares during the period. GAMMA Investing LLC’s holdings in Photronics were worth $81,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. M&T Bank Corp acquired a new position in shares of Photronics in the 3rd quarter valued at $252,000. Geode Capital Management LLC grew its stake in Photronics by 5.1% in the third quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock valued at $43,217,000 after acquiring an additional 85,160 shares during the period. Victory Capital Management Inc. grew its stake in Photronics by 4.9% in the third quarter. Victory Capital Management Inc. now owns 530,401 shares of the semiconductor company’s stock valued at $13,133,000 after acquiring an additional 24,834 shares during the period. FMR LLC increased its holdings in shares of Photronics by 36.0% in the third quarter. FMR LLC now owns 135,208 shares of the semiconductor company’s stock worth $3,348,000 after acquiring an additional 35,825 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Photronics during the third quarter worth about $730,000. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Photronics Trading Down 2.8 %

Shares of NASDAQ PLAB opened at $23.53 on Friday. The company has a fifty day moving average price of $24.72 and a 200 day moving average price of $24.34. The firm has a market cap of $1.49 billion, a PE ratio of 11.26 and a beta of 1.39. Photronics, Inc. has a 1-year low of $20.25 and a 1-year high of $34.16.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $218.00 million. During the same period in the prior year, the firm earned $0.60 earnings per share. Photronics’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts forecast that Photronics, Inc. will post 2.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com upgraded Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th. DA Davidson lifted their price target on shares of Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 12th.

Insiders Place Their Bets

In other Photronics news, EVP Christopher J. Progler sold 63,000 shares of Photronics stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $24.85, for a total value of $1,565,550.00. Following the sale, the executive vice president now directly owns 219,166 shares in the company, valued at approximately $5,446,275.10. The trade was a 22.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Han Kyung Park sold 11,250 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $24.63, for a total transaction of $277,087.50. Following the sale, the senior vice president now directly owns 118,000 shares in the company, valued at $2,906,340. This trade represents a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 190,250 shares of company stock valued at $4,665,310 in the last quarter. 3.88% of the stock is currently owned by insiders.

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.