Invesco Ltd. Grows Position in Photronics, Inc. $PLAB

Key Points

• Invesco Ltd. increased its stake in Photronics, Inc. by 12.1% during the first quarter, owning 1,258,714 shares valued at approximately $26.13 million.
• Photronics reported a Q2 EPS of $0.40, missing analyst estimates of $0.48, with revenues of $210.99 million for the quarter.
• Several analysts have adjusted their ratings for PLAB, with DA Davidson lowering its price target from $35.00 to $30.00 while maintaining a "buy" rating.

Invesco Ltd. increased its stake in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 12.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,258,714 shares of the semiconductor company's stock after buying an additional 135,859 shares during the period. Invesco Ltd. owned 1.98% of Photronics worth $26,131,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC increased its stake in Photronics by 2.1% in the 1st quarter. SummerHaven Investment Management LLC now owns 30,540 shares of the semiconductor company's stock worth $634,000 after buying an additional 625 shares during the period. Envestnet Asset Management Inc. increased its stake in 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 buying an additional 690 shares during the period. Cerity Partners LLC increased its stake in Photronics by 9.2% in the 4th quarter. Cerity Partners LLC now owns 9,314 shares of the semiconductor company's stock worth $227,000 after buying an additional 785 shares during the period. Perkins Coie Trust Co increased its stake in Photronics by 11.9% in the 1st quarter. Perkins Coie Trust Co now owns 9,400 shares of the semiconductor company's stock worth $195,000 after buying an additional 1,000 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Photronics by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,047 shares of the semiconductor company's stock valued at $826,000 after purchasing an additional 1,197 shares during the period. Hedge funds and other institutional investors own 88.38% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on PLAB. Craig Hallum began coverage on shares of Photronics in a research report on Wednesday, June 11th. They set a "buy" rating and a $32.00 target price on the stock. Wall Street Zen downgraded shares of Photronics from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, DA Davidson cut their target price on shares of Photronics from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $31.00.

Insider Activity

In other news, Director Mitchell G. Tyson sold 15,000 shares of Photronics stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $19.97, for a total value of $299,550.00. Following the transaction, the director owned 56,927 shares of the company's stock, valued at $1,136,832.19. The trade was a 20.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kang Jyh Lee sold 4,882 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $18.35, for a total transaction of $89,584.70. Following the sale, the director directly owned 532,100 shares in the company, valued at approximately $9,764,035. This represents a 0.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,382 shares of company stock worth $985,035 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Photronics Stock Down 0.0%

Shares of Photronics stock traded down $0.01 on Monday, reaching $22.07. The stock had a trading volume of 527,229 shares, compared to its average volume of 543,347. The company has a 50 day moving average price of $19.88 and a 200 day moving average price of $19.80. Photronics, Inc. has a 1 year low of $16.46 and a 1 year high of $31.60. The stock has a market capitalization of $1.33 billion, a P/E ratio of 11.49 and a beta of 1.40.

Photronics (NASDAQ:PLAB - Get Free Report) last issued its quarterly earnings data 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 return on equity of 8.54% and a net margin of 14.00%.The firm had revenue of $210.99 million during the quarter, compared to analysts' expectations of $212.00 million. During the same period in the previous year, the firm earned $0.46 EPS. The firm's quarterly 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, analysts forecast that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

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.