Balyasny Asset Management L.P. Buys 21,328 Shares of Photronics, Inc. (NASDAQ:PLAB)

Balyasny Asset Management L.P. raised its holdings in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) by 54.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 60,243 shares of the semiconductor company's stock after acquiring an additional 21,328 shares during the period. Balyasny Asset Management L.P. owned approximately 0.10% of Photronics worth $1,419,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in shares of Photronics by 216.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company's stock valued at $26,000 after buying an additional 762 shares during the period. Federated Hermes Inc. acquired a new position in Photronics during the fourth quarter valued at approximately $47,000. Parkside Financial Bank & Trust boosted its position in Photronics by 65.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company's stock valued at $54,000 after purchasing an additional 904 shares during the last quarter. KBC Group NV raised its stake in Photronics by 76.8% in the fourth quarter. KBC Group NV now owns 3,467 shares of the semiconductor company's stock valued at $82,000 after buying an additional 1,506 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in Photronics in the fourth quarter valued at approximately $101,000. Institutional investors own 88.38% of the company's stock.

Insider Buying and Selling at Photronics

In related news, CEO Kang Jyh Lee sold 10,000 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $21.60, for a total value of $216,000.00. Following the completion of the transaction, the chief executive officer now directly owns 542,100 shares in the company, valued at approximately $11,709,360. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter M. Fiederowicz sold 5,000 shares of the company's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $17.79, for a total transaction of $88,950.00. Following the sale, the director now owns 5,000 shares of the company's stock, valued at approximately $88,950. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,548 shares of company stock worth $1,093,093. Insiders own 3.20% of the company's stock.

Photronics Price Performance

NASDAQ:PLAB traded down $0.27 during trading hours on Friday, reaching $20.55. 431,151 shares of the company were exchanged, compared to its average volume of 531,678. The company has a market capitalization of $1.31 billion, a P/E ratio of 9.83 and a beta of 1.43. Photronics, Inc. has a 1-year low of $16.46 and a 1-year high of $31.60. The business has a 50 day moving average of $19.44 and a 200 day moving average of $22.19.

Photronics (NASDAQ:PLAB - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The company had revenue of $212.14 million for the quarter, compared to the consensus estimate of $210.00 million. During the same quarter last year, the business posted $0.48 EPS. As a group, equities research analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

About Photronics

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.