Jennison Associates LLC Invests $528,000 in Photronics, Inc. $PLAB

Jennison Associates LLC acquired a new position in Photronics, Inc. (NASDAQ:PLAB) in the second quarter, Holdings Channel.com reports. The firm acquired 28,040 shares of the semiconductor company’s stock, valued at approximately $528,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Photronics by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,012,744 shares of the semiconductor company’s stock valued at $21,025,000 after acquiring an additional 5,162 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Photronics by 50.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 57,417 shares of the semiconductor company’s stock valued at $1,192,000 after acquiring an additional 19,375 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Photronics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 5,907,219 shares of the semiconductor company’s stock valued at $122,634,000 after acquiring an additional 38,330 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Photronics by 38.8% in the 1st quarter. Victory Capital Management Inc. now owns 275,833 shares of the semiconductor company’s stock valued at $5,726,000 after acquiring an additional 77,036 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Photronics in the 1st quarter valued at about $648,000. Institutional investors own 88.38% of the company’s stock.

Insider Transactions at Photronics

In other news, Director Kang Jyh Lee sold 10,000 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $25.33, for a total value of $253,300.00. Following the completion of the transaction, the director owned 513,350 shares of the company’s stock, valued at approximately $13,003,155.50. This represents a 1.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Paladino sold 42,750 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $24.00, for a total value of $1,026,000.00. Following the completion of the transaction, the director directly owned 33,798 shares of the company’s stock, valued at $811,152. This represents a 55.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 82,750 shares of company stock worth $1,953,800. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on PLAB. Weiss Ratings reissued a “hold (c+)” rating on shares of Photronics in a research note on Friday. Zacks Research raised Photronics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Singular Research raised Photronics to a “strong-buy” rating in a research note on Thursday, September 4th. Finally, Wall Street Zen raised Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Photronics presently has a consensus rating of “Buy” and an average price target of $31.00.

Photronics Price Performance

PLAB opened at $23.90 on Friday. The business has a 50 day simple moving average of $23.42 and a two-hundred day simple moving average of $20.78. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 13.58 and a beta of 1.54. Photronics, Inc. has a one year low of $16.46 and a one year high of $31.60.

Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Wednesday, August 27th. The semiconductor company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12. The business had revenue of $210.39 million during the quarter, compared to analyst estimates of $204.30 million. Photronics had a return on equity of 8.19% and a net margin of 12.67%.Photronics’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 EPS. Photronics has set its Q4 2025 guidance at 0.420-0.480 EPS. As a group, sell-side analysts expect that Photronics, Inc. will post 2.3 EPS for the current fiscal 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.