Kendall Capital Management Has $1.22 Million Stock Holdings in Photronics, Inc. (NASDAQ:PLAB)

Kendall Capital Management decreased its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 2.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 51,710 shares of the semiconductor company’s stock after selling 1,310 shares during the period. Kendall Capital Management owned 0.08% of Photronics worth $1,218,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in shares of Photronics by 216.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company’s stock worth $26,000 after buying an additional 762 shares during the period. US Bancorp DE boosted its holdings in shares of Photronics by 137.2% during the 3rd quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after buying an additional 701 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Photronics by 65.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after buying an additional 567 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Photronics by 65.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company’s stock worth $54,000 after buying an additional 904 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Photronics by 17.6% during the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company’s stock worth $81,000 after buying an additional 516 shares during the period. Institutional investors own 88.38% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DA Davidson lifted their target price on shares of Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, December 12th.

Photronics Stock Up 3.2 %

Shares of Photronics stock opened at $21.71 on Friday. Photronics, Inc. has a twelve month low of $19.61 and a twelve month high of $31.60. The company has a 50-day simple moving average of $22.77 and a two-hundred day simple moving average of $23.75. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 10.39 and a beta of 1.43.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The business had revenue of $212.14 million during the quarter, compared to analysts’ expectations of $210.00 million. During the same quarter in the previous year, the company earned $0.48 EPS. On average, sell-side analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Christopher J. Progler sold 63,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $24.85, for a total value of $1,565,550.00. Following the completion of the transaction, the executive vice president now directly owns 219,166 shares in the company, valued at approximately $5,446,275.10. The trade was a 22.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kang Jyh Lee sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $20.90, for a total transaction of $209,000.00. Following the completion of the transaction, the chief executive officer now owns 552,100 shares of the company’s stock, valued at $11,538,890. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,000 shares of company stock worth $5,087,810. 3.20% of the stock is currently owned by corporate insiders.

Photronics Company Profile

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates.