Hotchkis & Wiley Capital Management LLC Buys 33,490 Shares of Photronics, Inc. $PLAB

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Photronics, Inc. by 6.2%, now owning 575,450 shares valued at approximately $11.9 million.
• Photronics reported an EPS of $0.40 for the last quarter, missing estimates of $0.48, and had revenues of $210.99 million, slightly below expectations.
• Multiple institutional investors, including Wells Fargo and Barclays, have recently adjusted their positions in Photronics, reflecting growing interest in the company.

Hotchkis & Wiley Capital Management LLC lifted its position in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 575,450 shares of the semiconductor company's stock after purchasing an additional 33,490 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.91% of Photronics worth $11,946,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its stake in Photronics by 20.7% during the fourth quarter. Wells Fargo & Company MN now owns 57,479 shares of the semiconductor company's stock worth $1,354,000 after buying an additional 9,840 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Photronics by 1.8% in the 4th 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 in the last quarter. Raymond James Financial Inc. bought a new stake in Photronics during the 4th quarter worth approximately $1,206,000. Barclays PLC increased its holdings in Photronics by 1.4% during the 4th quarter. Barclays PLC now owns 115,701 shares of the semiconductor company's stock valued at $2,725,000 after purchasing an additional 1,568 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Photronics in the 4th quarter valued at $262,000. 88.38% of the stock is owned by institutional investors.

Photronics Stock Up 5.7%

Shares of PLAB opened at $22.08 on Friday. Photronics, Inc. has a 12-month low of $16.46 and a 12-month high of $31.60. The firm has a market capitalization of $1.33 billion, a PE ratio of 11.50 and a beta of 1.40. The stock's fifty day simple moving average is $19.81 and its 200-day simple moving average is $19.83.

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

Insider Buying and Selling at Photronics

In other Photronics news, Director Kang Jyh Lee sold 4,882 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $18.35, for a total transaction of $89,584.70. Following the completion of the sale, the director owned 532,100 shares in the company, valued at approximately $9,764,035. The trade was a 0.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Constantine S. Macricostas sold 29,500 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $20.20, for a total value of $595,900.00. Following the completion of the transaction, the director directly owned 459,623 shares in the company, valued at approximately $9,284,384.60. This trade represents a 6.03% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 49,382 shares of company stock valued at $985,035. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PLAB has been the topic of several research analyst reports. DA Davidson decreased their target price on Photronics from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Wall Street Zen downgraded shares of Photronics from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Craig Hallum assumed coverage on shares of Photronics in a research report on Wednesday, June 11th. They issued a "buy" rating and a $32.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $31.00.

Photronics 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.

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