Bank of Montreal Can reduced its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 88.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,276 shares of the semiconductor company’s stock after selling 121,029 shares during the period. Bank of Montreal Can’s holdings in Photronics were worth $130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the stock. Louisiana State Employees Retirement System acquired a new position in Photronics during the 4th quarter valued at about $253,000. GSA Capital Partners LLP increased its position in Photronics by 146.7% during the 3rd quarter. GSA Capital Partners LLP now owns 70,606 shares of the semiconductor company’s stock valued at $625,000 after buying an additional 41,986 shares in the last quarter. Wolverine Trading LLC acquired a new position in shares of Photronics in the third quarter valued at about $117,000. California Public Employees Retirement System increased its holdings in shares of Photronics by 3.3% in the third quarter. California Public Employees Retirement System now owns 744,108 shares of the semiconductor company’s stock valued at $6,585,000 after purchasing an additional 23,908 shares during the period. Finally, Group One Trading L.P. increased its holdings in shares of Photronics by 90.8% in the third quarter. Group One Trading L.P. now owns 11,977 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 5,700 shares during the period. 94.74% of the stock is currently owned by institutional investors.
In other news, Director Constantine S. Macricostas sold 200,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $7.75, for a total value of $1,550,000.00. Following the sale, the director now owns 692,575 shares in the company, valued at $5,367,456.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Constantine S. Macricostas sold 400,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $7.73, for a total value of $3,092,000.00. Following the completion of the sale, the director now owns 692,575 shares in the company, valued at approximately $5,353,604.75. The disclosure for this sale can be found here. Insiders sold 624,040 shares of company stock worth $4,864,415 over the last three months. Corporate insiders own 3.71% of the company’s stock.
Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $123.40 million for the quarter, compared to analyst estimates of $114.13 million. Photronics had a return on equity of 1.96% and a net margin of 3.68%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. sell-side analysts anticipate that Photronics, Inc. will post 0.38 EPS for the current fiscal year.
A number of brokerages have recently weighed in on PLAB. ValuEngine lowered Photronics from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Zacks Investment Research raised Photronics from a “sell” rating to a “hold” rating in a report on Friday, February 16th. DA Davidson reissued a “buy” rating and issued a $13.00 price objective on shares of Photronics in a report on Monday, November 27th. Finally, BidaskClub lowered Photronics from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 30th.
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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.
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