Penbrook Management LLC Purchases New Holdings in Photronics, Inc. (PLAB)

Penbrook Management LLC purchased a new position in shares of Photronics, Inc. (NASDAQ:PLAB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 80,750 shares of the semiconductor company’s stock, valued at approximately $688,000.

Several other hedge funds also recently bought and sold shares of PLAB. State Street Corp boosted its holdings in shares of Photronics by 2.5% during the second quarter. State Street Corp now owns 1,424,985 shares of the semiconductor company’s stock worth $13,395,000 after purchasing an additional 35,414 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Photronics by 3.1% during the second quarter. The Manufacturers Life Insurance Company now owns 52,194 shares of the semiconductor company’s stock worth $491,000 after purchasing an additional 1,579 shares during the period. Nationwide Fund Advisors boosted its holdings in shares of Photronics by 34.1% during the third quarter. Nationwide Fund Advisors now owns 119,518 shares of the semiconductor company’s stock worth $1,058,000 after purchasing an additional 30,424 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Photronics by 10.2% during the third quarter. Bank of New York Mellon Corp now owns 2,190,402 shares of the semiconductor company’s stock worth $19,386,000 after purchasing an additional 203,240 shares during the period. Finally, Comerica Bank acquired a new stake in shares of Photronics during the third quarter worth approximately $1,445,000. Institutional investors and hedge funds own 97.90% of the company’s stock.

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In related news, Director Constantine S. Macricostas sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $7.75, for a total transaction of $1,550,000.00. Following the transaction, the director now owns 692,575 shares of the company’s stock, valued at $5,367,456.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Constantine S. Macricostas sold 400,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $7.73, for a total transaction of $3,092,000.00. Following the transaction, the director now directly owns 692,575 shares in the company, valued at approximately $5,353,604.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 604,580 shares of company stock worth $4,681,180. Insiders own 3.73% of the company’s stock.

PLAB has been the topic of several recent research reports. Zacks Investment Research raised shares of Photronics from a “sell” rating to a “hold” rating in a research report on Friday, February 16th. DA Davidson reaffirmed a “buy” rating and set a $13.00 price objective on shares of Photronics in a research report on Monday, November 27th. BidaskClub lowered shares of Photronics from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, ValuEngine lowered shares of Photronics from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd.

Photronics, Inc. (NASDAQ:PLAB) opened at $8.85 on Friday. The firm has a market cap of $632.40, a P/E ratio of 34.04, a P/E/G ratio of 2.38 and a beta of 0.58. The company has a current ratio of 5.59, a quick ratio of 5.28 and a debt-to-equity ratio of 0.06. Photronics, Inc. has a 52-week low of $7.20 and a 52-week high of $11.75.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm had revenue of $123.40 million for the quarter, compared to analyst estimates of $114.13 million. Photronics had a net margin of 3.68% and a return on equity of 1.96%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 earnings per share. equities analysts expect that Photronics, Inc. will post 0.38 EPS for the current year.

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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.

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Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

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