D. E. Shaw & Co. Inc. raised its stake in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 13.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 224,573 shares of the semiconductor company's stock after buying an additional 27,234 shares during the period. D. E. Shaw & Co. Inc. owned about 0.35% of Photronics worth $5,291,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its position 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 last quarter. Federated Hermes Inc. bought a new stake in shares of Photronics in the 4th quarter valued at $47,000. Parkside Financial Bank & Trust boosted its stake in shares of Photronics by 65.6% in the 4th 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 boosted its position in shares of Photronics by 76.8% during the 4th quarter. KBC Group NV now owns 3,467 shares of the semiconductor company's stock valued at $82,000 after purchasing an additional 1,506 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Photronics during the fourth quarter worth $101,000. Institutional investors own 88.38% of the company's stock.
Photronics Price Performance
Shares of NASDAQ PLAB traded up $0.05 during mid-day trading on Tuesday, reaching $20.43. 324,023 shares of the company's stock traded hands, compared to its average volume of 531,234. The stock has a market cap of $1.30 billion, a P/E ratio of 9.78 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 simple moving average of $19.43 and a 200 day simple moving average of $22.16.
Photronics (NASDAQ:PLAB - Get Free Report) last issued its earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. The firm had revenue of $212.14 million for the quarter, compared to analyst estimates of $210.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. During the same period in the previous year, the company posted $0.48 earnings per share. Equities research analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Walter M. Fiederowicz sold 7,000 shares of the company's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $18.88, for a total transaction of $132,160.00. Following the transaction, the director now directly owns 17,548 shares in the company, valued at approximately $331,306.24. This represents a 28.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kang Jyh Lee sold 10,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was 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 in the company, valued at $11,538,890. This represents a 1.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,548 shares of company stock valued at $1,093,093 over the last ninety days. Company insiders own 3.20% of the company's stock.
Photronics Company Profile
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Free Report)
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.
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