Walthausen & Co. LLC reduced its position in Photronics, Inc. (NASDAQ:PLAB) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,277 shares of the semiconductor company’s stock after selling 13,030 shares during the quarter. Walthausen & Co. LLC owned 0.20% of Photronics worth $2,100,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Photronics by 28.3% during the third quarter. Barclays PLC now owns 117,921 shares of the semiconductor company’s stock worth $1,283,000 after acquiring an additional 26,024 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Photronics by 25.4% during the third quarter. First Trust Advisors LP now owns 152,830 shares of the semiconductor company’s stock worth $1,663,000 after acquiring an additional 31,003 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Photronics during the fourth quarter worth about $89,000. KBC Group NV grew its stake in shares of Photronics by 128.9% during the fourth quarter. KBC Group NV now owns 107,098 shares of the semiconductor company’s stock worth $1,688,000 after acquiring an additional 60,318 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Photronics by 2.6% during the third quarter. State Street Corp now owns 2,253,100 shares of the semiconductor company’s stock worth $24,514,000 after acquiring an additional 57,785 shares during the last quarter. Hedge funds and other institutional investors own 94.78% of the company’s stock.
NASDAQ:PLAB traded up $0.72 during trading hours on Thursday, reaching $10.74. The company had a trading volume of 676,063 shares, compared to its average volume of 737,025. Photronics, Inc. has a 1-year low of $7.95 and a 1-year high of $16.75. The firm has a market cap of $660.97 million, a PE ratio of 19.89 and a beta of 0.59. The business’s 50 day moving average price is $12.47 and its 200-day moving average price is $12.74. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.80 and a quick ratio of 2.48.
A number of brokerages have recently weighed in on PLAB. BidaskClub upgraded Photronics from a “sell” rating to a “hold” rating in a research note on Tuesday. DA Davidson restated a “buy” rating and set a $18.00 price target on shares of Photronics in a research note on Thursday, December 12th. TheStreet upgraded Photronics from a “c” rating to a “b-” rating in a research note on Wednesday, December 11th. Zacks Investment Research lowered Photronics from a “hold” rating to a “sell” rating in a research report on Friday, March 13th. Finally, Stifel Nicolaus upgraded Photronics from a “hold” rating to a “buy” rating and upped their target price for the company from $11.00 to $16.00 in a research report on Sunday, February 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Photronics presently has an average rating of “Hold” and an average target price of $16.75.
In other news, CEO Peter S. Kirlin sold 18,107 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $15.92, for a total transaction of $288,263.44. Following the completion of the transaction, the chief executive officer now directly owns 304,053 shares of the company’s stock, valued at approximately $4,840,523.76. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph A. Fiorita, Jr. sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $14.54, for a total value of $36,350.00. Following the transaction, the director now directly owns 202,100 shares of the company’s stock, valued at $2,938,534. The disclosure for this sale can be found here. Insiders sold 69,293 shares of company stock valued at $1,058,599 over the last three months. 3.82% of the stock is currently owned by corporate insiders.
Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz or glass plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.
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