Pacific Ridge Capital Partners LLC Has $1.93 Million Position in Photronics, Inc. (PLAB)

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Pacific Ridge Capital Partners LLC increased its holdings in Photronics, Inc. (NASDAQ:PLAB) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,980 shares of the semiconductor company’s stock after purchasing an additional 10,270 shares during the quarter. Pacific Ridge Capital Partners LLC owned approximately 0.28% of Photronics worth $1,930,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PLAB. BlackRock Inc. grew its stake in shares of Photronics by 7.2% in the second quarter. BlackRock Inc. now owns 9,656,455 shares of the semiconductor company’s stock worth $77,011,000 after purchasing an additional 652,680 shares during the last quarter. Millennium Management LLC grew its stake in shares of Photronics by 28.2% in the second quarter. Millennium Management LLC now owns 1,324,211 shares of the semiconductor company’s stock worth $10,561,000 after purchasing an additional 291,629 shares during the last quarter. Cortina Asset Management LLC grew its stake in shares of Photronics by 58.2% in the second quarter. Cortina Asset Management LLC now owns 646,950 shares of the semiconductor company’s stock worth $5,159,000 after purchasing an additional 238,023 shares during the last quarter. Quantum Capital Management grew its stake in shares of Photronics by 355.0% in the second quarter. Quantum Capital Management now owns 262,828 shares of the semiconductor company’s stock worth $2,096,000 after purchasing an additional 205,059 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Photronics by 420.2% in the third quarter. Victory Capital Management Inc. now owns 134,861 shares of the semiconductor company’s stock worth $1,328,000 after purchasing an additional 108,936 shares during the last quarter. 93.62% of the stock is currently owned by institutional investors.

Shares of Photronics stock opened at $9.06 on Friday. Photronics, Inc. has a twelve month low of $7.20 and a twelve month high of $11.00. The firm has a market capitalization of $666.47 million, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67.

Photronics announced that its Board of Directors has approved a share buyback plan on Friday, October 12th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 3.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Several analysts recently weighed in on PLAB shares. ValuEngine cut shares of Photronics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. Zacks Investment Research raised shares of Photronics from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Saturday, August 25th. BidaskClub cut shares of Photronics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, TheStreet raised shares of Photronics from a “c+” rating to a “b-” rating in a research note on Tuesday, September 11th. Four research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $11.00.

In other Photronics news, VP Christopher J. Progler sold 5,300 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $9.84, for a total transaction of $52,152.00. Following the sale, the vice president now owns 92,400 shares of the company’s stock, valued at $909,216. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 12,830 shares of company stock worth $124,518 in the last ninety days. Insiders own 3.73% of the company’s stock.

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Photronics Company Profile

Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.

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Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

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