Perkins Coie Trust Co Grows Position in Photronics, Inc. (NASDAQ:PLAB)

Perkins Coie Trust Co boosted its stake in Photronics, Inc. (NASDAQ:PLAB) by 11.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,400 shares of the semiconductor company’s stock after purchasing an additional 1,000 shares during the quarter. Perkins Coie Trust Co’s holdings in Photronics were worth $195,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PLAB. Barclays PLC grew its holdings in Photronics by 297.2% in the third quarter. Barclays PLC now owns 114,133 shares of the semiconductor company’s stock valued at $2,826,000 after purchasing an additional 85,397 shares during the period. KBC Group NV grew its stake in Photronics by 76.8% during the fourth quarter. KBC Group NV now owns 3,467 shares of the semiconductor company’s stock worth $82,000 after buying an additional 1,506 shares during the period. Empowered Funds LLC grew its stake in Photronics by 13.4% during the fourth quarter. Empowered Funds LLC now owns 376,726 shares of the semiconductor company’s stock worth $8,876,000 after buying an additional 44,602 shares during the period. Four Tree Island Advisory LLC purchased a new stake in Photronics during the fourth quarter worth approximately $3,472,000. Finally, James Investment Research Inc. grew its stake in Photronics by 84.9% during the fourth quarter. James Investment Research Inc. now owns 42,587 shares of the semiconductor company’s stock worth $1,003,000 after buying an additional 19,549 shares during the period. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Photronics from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. DA Davidson decreased their price objective on shares of Photronics from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 29th.

Photronics Stock Up 2.1%

PLAB opened at $18.11 on Friday. Photronics, Inc. has a 52-week low of $16.46 and a 52-week high of $31.60. The company has a 50 day moving average of $18.68 and a two-hundred day moving average of $21.61. The company has a market cap of $1.15 billion, a P/E ratio of 8.67 and a beta of 1.38.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.08). The business had revenue of $210.99 million for the quarter, compared to analysts’ expectations of $212.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. Photronics’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Research analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current year.

Insider Activity

In other news, CEO Kang Jyh Lee sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $21.60, for a total value of $216,000.00. Following the completion of the transaction, the chief executive officer now directly owns 542,100 shares in the company, valued at approximately $11,709,360. This represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Walter M. Fiederowicz sold 5,000 shares of the company’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $17.79, for a total transaction of $88,950.00. Following the completion of the sale, the director now directly owns 5,000 shares in the company, valued at $88,950. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,548 shares of company stock worth $884,093. 3.20% of the stock is currently owned by company 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.