Uncommon Cents Investing LLC cut its holdings in Photronics, Inc. (NASDAQ:PLAB) by 7.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,785 shares of the semiconductor company’s stock after selling 6,235 shares during the period. Uncommon Cents Investing LLC owned about 0.13% of Photronics worth $1,039,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Photronics by 4.7% during the 4th quarter. BlackRock Inc. now owns 10,328,958 shares of the semiconductor company’s stock worth $115,270,000 after buying an additional 464,017 shares during the last quarter. Needham Investment Management LLC increased its position in Photronics by 46.5% in the 4th quarter. Needham Investment Management LLC now owns 1,580,000 shares of the semiconductor company’s stock valued at $17,633,000 after acquiring an additional 501,776 shares during the period. Divisar Capital Management LLC raised its stake in Photronics by 3.3% during the 4th quarter. Divisar Capital Management LLC now owns 1,252,060 shares of the semiconductor company’s stock valued at $13,973,000 after acquiring an additional 40,000 shares during the last quarter. Kennedy Capital Management Inc. lifted its position in Photronics by 31.0% during the 4th quarter. Kennedy Capital Management Inc. now owns 1,060,701 shares of the semiconductor company’s stock worth $11,837,000 after acquiring an additional 251,187 shares during the period. Finally, Heartland Advisors Inc. grew its stake in shares of Photronics by 42.7% in the 4th quarter. Heartland Advisors Inc. now owns 903,400 shares of the semiconductor company’s stock valued at $10,082,000 after purchasing an additional 270,400 shares during the last quarter. 86.18% of the stock is owned by institutional investors.
In related news, insider Kang Jyh Lee sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 18th. The shares were sold at an average price of $12.34, for a total value of $123,400.00. Following the completion of the sale, the insider now owns 181,175 shares in the company, valued at $2,235,699.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.82% of the company’s stock.
Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, February 24th. The semiconductor company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. Photronics had a return on equity of 3.60% and a net margin of 5.55%. The firm had revenue of $152.07 million for the quarter, compared to analyst estimates of $150.05 million. As a group, analysts predict that Photronics, Inc. will post 0.79 EPS for the current fiscal year.
Several equities research analysts recently weighed in on PLAB shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $13.00 price target on shares of Photronics in a report on Wednesday, March 3rd. Zacks Investment Research raised shares of Photronics from a “sell” rating to a “hold” rating in a report on Wednesday, February 10th.
Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, Korea, Europe, China, and internationally. The company offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, FDP substrates, and other types of electrical and optical components.
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