Cresset Asset Management LLC Boosts Stock Position in Photronics, Inc. (NASDAQ:PLAB)

Cresset Asset Management LLC grew its holdings in Photronics, Inc. (NASDAQ:PLAB) by 10.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 86,599 shares of the semiconductor company’s stock after acquiring an additional 8,328 shares during the quarter. Cresset Asset Management LLC’s holdings in Photronics were worth $2,040,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Smartleaf Asset Management LLC lifted its holdings in Photronics by 216.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 762 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of Photronics during the fourth quarter valued at approximately $47,000. Parkside Financial Bank & Trust boosted its holdings in shares of Photronics by 65.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 904 shares during the period. GAMMA Investing LLC grew its stake in Photronics by 17.6% in the fourth quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 516 shares in the last quarter. Finally, KBC Group NV increased its holdings in Photronics by 76.8% during the 4th quarter. KBC Group NV now owns 3,467 shares of the semiconductor company’s stock worth $82,000 after purchasing an additional 1,506 shares during the period. 88.38% of the stock is currently owned by institutional investors.

Photronics Trading Down 0.6 %

Shares of PLAB stock opened at $19.42 on Friday. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 9.29 and a beta of 1.43. Photronics, Inc. has a twelve month low of $16.46 and a twelve month high of $31.60. The stock has a fifty day simple moving average of $19.47 and a two-hundred day simple moving average of $22.29.

Photronics (NASDAQ:PLAB) last issued its earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.05. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The company had revenue of $212.14 million for the quarter, compared to analysts’ expectations of $210.00 million. During the same period in the prior year, the business earned $0.48 EPS. Research analysts predict that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Walter M. Fiederowicz sold 5,000 shares of Photronics stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $19.16, for a total value of $95,800.00. Following the transaction, the director now owns 24,548 shares of the company’s stock, valued at $470,339.68. The trade was a 16.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kang Jyh Lee sold 10,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $20.90, for a total value of $209,000.00. Following the sale, the chief executive officer now owns 552,100 shares of the company’s stock, valued at approximately $11,538,890. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,548 shares of company stock valued at $1,093,093 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

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.