Photronics, Inc. $PLAB Stock Purchased by Torrey Growth & Income Advisors

Torrey Growth & Income Advisors boosted its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 40.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,781 shares of the semiconductor company’s stock after purchasing an additional 20,981 shares during the quarter. Photronics makes up 0.7% of Torrey Growth & Income Advisors’ portfolio, making the stock its 25th biggest holding. Torrey Growth & Income Advisors’ holdings in Photronics were worth $2,239,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PLAB. BlackRock Inc. acquired a new stake in Photronics in the second quarter valued at $308,586,000. Bank of New York Mellon Corp acquired a new position in shares of Photronics during the 2nd quarter worth $12,374,000. Heartland Advisors Inc. purchased a new stake in shares of Photronics in the 2nd quarter worth about $12,355,000. Empowered Funds LLC purchased a new stake in shares of Photronics in the 2nd quarter worth about $8,843,000. Finally, Meros Investment Management LP purchased a new stake in shares of Photronics in the 2nd quarter worth about $7,728,055. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Photronics

In related news, SVP Han Park sold 9,500 shares of the stock in a transaction on Friday, September 25th. The stock was sold at an average price of $30.37, for a total transaction of $288,515.00. Following the sale, the senior vice president owned 66,000 shares of the company’s stock, valued at $2,004,420. This trade represents a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kang Lee sold 10,000 shares of the stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $30.75, for a total value of $307,500.00. Following the sale, the director directly owned 337,350 shares in the company, valued at approximately $10,373,512.50. The trade was a 2.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 37,000 shares of company stock worth $1,114,265 over the last 90 days. Company insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PLAB. Zacks Research raised shares of Photronics to a “hold” rating in a research note on Friday, August 14th. Wall Street Zen upgraded shares of Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Finally, Weiss Ratings downgraded shares of Photronics from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.33.

Photronics Stock Performance

PLAB stock opened at $28.92 on Tuesday. The stock’s 50 day moving average price is $28.89 and its 200 day moving average price is $35.07. The firm has a market cap of $1.71 billion, a P/E ratio of 10.18 and a beta of 1.42. Photronics, Inc. has a 1 year low of $20.05 and a 1 year high of $56.00.

Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.10. Photronics had a return on equity of 7.45% and a net margin of 19.05%. The company had revenue of $216.05 million during the quarter, compared to the consensus estimate of $208.75 million. During the same quarter last year, the business posted $0.51 earnings per share. Photronics’s revenue was up 2.7% compared to the same quarter last year. Photronics has set its Q4 2026 guidance at 0.400-0.560 EPS. On average, research analysts predict that Photronics, Inc. will post 1.90 earnings per share for the current year.

About Photronics

Photronics, Inc manufactures photomasks, high-precision plates used to transfer circuit patterns onto semiconductor wafers and flat-panel displays. Its products support the production of integrated circuits and display technologies.

The company serves semiconductor and display manufacturers around the world, with operations across North America, Europe and Asia. Photronics traces its history to 1969, when it was established as Photronic Labs.

Photronics is headquartered in Brookfield, Connecticut.