Hodges Capital Management Inc. Invests $865,000 in Photronics, Inc. (NASDAQ:PLAB)

Hodges Capital Management Inc. bought a new stake in Photronics, Inc. (NASDAQ:PLAB) during the second quarter, Holdings Channel reports. The institutional investor bought 92,010 shares of the semiconductor company’s stock, valued at approximately $865,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PLAB. Bank of America Corp DE increased its position in shares of Photronics by 0.5% in the first quarter. Bank of America Corp DE now owns 55,456 shares of the semiconductor company’s stock valued at $593,000 after buying an additional 271 shares during the last quarter. Adams Diversified Equity Fund Inc. increased its position in shares of Photronics by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 61,900 shares of the semiconductor company’s stock valued at $662,000 after buying an additional 1,700 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Photronics by 4.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 44,589 shares of the semiconductor company’s stock valued at $477,000 after buying an additional 1,987 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Photronics by 5.3% in the first quarter. PNC Financial Services Group Inc. now owns 41,820 shares of the semiconductor company’s stock valued at $448,000 after buying an additional 2,104 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Photronics by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 106,153 shares of the semiconductor company’s stock valued at $1,200,000 after buying an additional 2,560 shares during the last quarter. 97.86% of the stock is currently owned by institutional investors and hedge funds.

Photronics, Inc. (NASDAQ PLAB) opened at 9.70 on Thursday. Photronics, Inc. has a 12-month low of $8.20 and a 12-month high of $12.10. The firm’s 50-day moving average price is $9.84 and its 200 day moving average price is $10.63. The firm has a market cap of $668.06 million, a P/E ratio of 39.11 and a beta of 0.48.

Photronics (NASDAQ:PLAB) last posted its earnings results on Wednesday, May 17th. The semiconductor company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $108.30 million for the quarter, compared to the consensus estimate of $111.16 million. Photronics had a return on equity of 1.84% and a net margin of 3.81%. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. Analysts forecast that Photronics, Inc. will post $0.28 earnings per share for the current fiscal year.

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Several research analysts have recently commented on the company. Zacks Investment Research downgraded Photronics from a “hold” rating to a “sell” rating in a report on Friday, May 19th. BidaskClub raised Photronics from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, ValuEngine raised Photronics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $12.83.

In other Photronics news, VP Christopher J. Progler sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $10.05, for a total transaction of $40,200.00. Following the sale, the vice president now owns 78,900 shares of the company’s stock, valued at $792,945. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.71% of the company’s stock.

About Photronics

Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. As of October 30, 2016, the Company operated principally from nine manufacturing facilities: two located in Europe, three in Taiwan, one in Korea and three in the United States.

Want to see what other hedge funds are holding PLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Photronics, Inc. (NASDAQ:PLAB).

Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

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