American Century Companies Inc. Has $45.60 Million Position in Photronics, Inc. $PLAB

Key Points

• American Century Companies Inc. has increased its stake in Photronics, Inc. by 8.8% during the 1st quarter, owning 2,196,267 shares valued at approximately $45.6 million.
• Photronics reported an EPS of $0.40 for the most recent quarter, missing analyst expectations, and indicated a revenue of $210.99 million, down 2.8% year-over-year.
• Several institutional investors, including Wells Fargo and Barclays, have modified their holdings in Photronics, contributing to a total institutional ownership of 88.38%.

American Century Companies Inc. lifted its stake in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 8.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,196,267 shares of the semiconductor company's stock after acquiring an additional 177,380 shares during the quarter. American Century Companies Inc. owned approximately 3.46% of Photronics worth $45,595,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PLAB. Wells Fargo & Company MN increased its stake in shares of Photronics by 20.7% in the fourth quarter. Wells Fargo & Company MN now owns 57,479 shares of the semiconductor company's stock worth $1,354,000 after acquiring an additional 9,840 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Photronics by 1.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 38,042 shares of the semiconductor company's stock worth $896,000 after acquiring an additional 690 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Photronics by 9.2% in the fourth quarter. Cerity Partners LLC now owns 9,314 shares of the semiconductor company's stock worth $227,000 after acquiring an additional 785 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Photronics in the fourth quarter worth $1,206,000. Finally, Barclays PLC increased its stake in shares of Photronics by 1.4% in the fourth quarter. Barclays PLC now owns 115,701 shares of the semiconductor company's stock worth $2,725,000 after acquiring an additional 1,568 shares during the last quarter. 88.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLAB. Craig Hallum began coverage on shares of Photronics in a research note on Wednesday, June 11th. They issued a "buy" rating and a $32.00 price target on the stock. Wall Street Zen cut shares of Photronics from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, DA Davidson decreased their price objective on shares of Photronics from $35.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Photronics currently has a consensus rating of "Buy" and a consensus target price of $31.00.

Photronics Stock Up 0.9%

PLAB stock traded up $0.20 during mid-day trading on Tuesday, reaching $22.27. 794,660 shares of the stock traded hands, compared to its average volume of 516,553. Photronics, Inc. has a 52 week low of $16.46 and a 52 week high of $31.60. The business has a 50-day moving average of $19.95 and a two-hundred day moving average of $19.82. The firm has a market capitalization of $1.34 billion, a PE ratio of 11.60 and a beta of 1.40.

Photronics (NASDAQ:PLAB - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.08). Photronics had a net margin of 14.00% and a return on equity of 8.54%. The firm had revenue of $210.99 million for the quarter, compared to the consensus estimate of $212.00 million. During the same quarter last year, the company earned $0.46 earnings per share. The firm's revenue was down 2.8% on a year-over-year basis. Photronics has set its Q3 2025 guidance at 0.350-0.410 EPS. On average, equities research analysts anticipate that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Insider Activity

In other Photronics news, Director Constantine S. Macricostas sold 29,500 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $20.20, for a total transaction of $595,900.00. Following the completion of the sale, the director directly owned 459,623 shares in the company, valued at $9,284,384.60. This represents a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mitchell G. Tyson sold 15,000 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $19.97, for a total transaction of $299,550.00. Following the sale, the director owned 56,927 shares of the company's stock, valued at $1,136,832.19. This trade represents a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,382 shares of company stock valued at $985,035 over the last three months. 3.20% of the stock is currently owned by 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.