Invesco Ltd. Has $26.13 Million Stake 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. raised its position in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 12.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,258,714 shares of the semiconductor company's stock after purchasing an additional 135,859 shares during the period. Invesco Ltd. owned 1.98% of Photronics worth $26,131,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLAB. GAMMA Investing LLC increased its stake in shares of Photronics by 1,761.0% in the 1st quarter. GAMMA Investing LLC now owns 64,169 shares of the semiconductor company's stock valued at $1,332,000 after acquiring an additional 60,721 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Photronics by 22.9% in the 1st quarter. SG Americas Securities LLC now owns 28,982 shares of the semiconductor company's stock valued at $602,000 after acquiring an additional 5,391 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Photronics by 50.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 57,417 shares of the semiconductor company's stock valued at $1,192,000 after acquiring an additional 19,375 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Photronics by 38.8% in the 1st quarter. Victory Capital Management Inc. now owns 275,833 shares of the semiconductor company's stock valued at $5,726,000 after acquiring an additional 77,036 shares in the last quarter. Finally, Skylands Capital LLC increased its stake in shares of Photronics by 15.4% in the 1st quarter. Skylands Capital LLC now owns 189,800 shares of the semiconductor company's stock valued at $3,940,000 after acquiring an additional 25,300 shares in the last quarter. Institutional investors and hedge funds own 88.38% of the company's stock.

Photronics Trading Up 0.0%

Shares of PLAB stock opened at $21.05 on Wednesday. The firm has a market capitalization of $1.27 billion, a PE ratio of 10.96 and a beta of 1.40. The firm has a fifty day simple moving average of $19.67 and a two-hundred day simple moving average of $19.86. Photronics, Inc. has a 12 month low of $16.46 and a 12 month high of $31.60.

Photronics (NASDAQ:PLAB - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $210.99 million for the quarter, compared to the consensus estimate of $212.00 million. Photronics had a net margin of 14.00% and a return on equity of 8.54%. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 EPS. Photronics has set its Q3 2025 guidance at 0.350-0.410 EPS. On average, equities analysts predict that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity

In other Photronics news, Director Kang Jyh Lee sold 4,882 shares of Photronics 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 transaction, the director directly owned 532,100 shares of the company's stock, valued at $9,764,035. The trade was a 0.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mitchell G. Tyson sold 15,000 shares of Photronics stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $19.97, for a total transaction of $299,550.00. Following the transaction, the director directly owned 56,927 shares in the company, valued at $1,136,832.19. This represents a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,382 shares of company stock valued at $985,035 over the last quarter. 3.20% of the stock is 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.

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