Raymond James Financial Inc. Invests $1.21 Million in Photronics, Inc. (NASDAQ:PLAB)

Raymond James Financial Inc. purchased a new position in shares of Photronics, Inc. (NASDAQ:PLAB) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 51,184 shares of the semiconductor company’s stock, valued at approximately $1,206,000. Raymond James Financial Inc. owned about 0.08% of Photronics at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Photronics by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 967,003 shares of the semiconductor company’s stock valued at $23,943,000 after acquiring an additional 32,977 shares during the period. FMR LLC raised its stake in Photronics by 36.0% in the 3rd quarter. FMR LLC now owns 135,208 shares of the semiconductor company’s stock worth $3,348,000 after purchasing an additional 35,825 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Photronics by 53.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 49,077 shares of the semiconductor company’s stock worth $1,215,000 after purchasing an additional 17,113 shares in the last quarter. Verition Fund Management LLC bought a new stake in Photronics in the 3rd quarter valued at about $292,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Photronics during the 3rd quarter worth approximately $302,000. 88.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, DA Davidson upped their target price on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, December 12th.

Insider Buying and Selling at Photronics

In other Photronics news, CEO Kang Jyh Lee sold 10,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $25.02, for a total value of $250,200.00. Following the completion of the transaction, the chief executive officer now directly owns 580,850 shares in the company, valued at approximately $14,532,867. This trade represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Han Kyung Park sold 11,250 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $24.63, for a total value of $277,087.50. Following the completion of the sale, the senior vice president now owns 118,000 shares of the company’s stock, valued at $2,906,340. The trade was a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,000 shares of company stock worth $1,407,388 over the last 90 days. Insiders own 3.20% of the company’s stock.

Photronics Stock Up 0.7 %

PLAB stock opened at $20.52 on Thursday. The company’s 50-day moving average price is $21.72 and its two-hundred day moving average price is $23.42. The firm has a market cap of $1.30 billion, a P/E ratio of 9.82 and a beta of 1.43. Photronics, Inc. has a 12 month low of $19.61 and a 12 month high of $31.60.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The business had revenue of $212.14 million for the quarter, compared to analysts’ expectations of $210.00 million. During the same period last year, the firm posted $0.48 earnings per share. Equities analysts predict that Photronics, Inc. will post 2.3 EPS for the current year.

About Photronics

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.