Mackenzie Financial Corp Has $1.40 Million Position in Photronics, Inc. (NASDAQ:PLAB)

Mackenzie Financial Corp boosted its position in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 141.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,372 shares of the semiconductor company's stock after buying an additional 39,520 shares during the quarter. Mackenzie Financial Corp owned approximately 0.11% of Photronics worth $1,399,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Photronics by 1,761.0% during the first 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 during the period. Vanguard Group Inc. lifted its position in shares of Photronics by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 5,868,889 shares of the semiconductor company's stock worth $138,271,000 after purchasing an additional 29,681 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Photronics by 22.9% during the 1st quarter. SG Americas Securities LLC now owns 28,982 shares of the semiconductor company's stock worth $602,000 after purchasing an additional 5,391 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Photronics by 50.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 57,417 shares of the semiconductor company's stock valued at $1,192,000 after purchasing an additional 19,375 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Photronics by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,775,402 shares of the semiconductor company's stock valued at $41,837,000 after buying an additional 30,237 shares during the last quarter. Institutional investors own 88.38% of the company's stock.

Photronics Trading Up 2.0%

PLAB traded up $0.40 on Friday, hitting $20.18. 188,570 shares of the stock traded hands, compared to its average volume of 628,990. The business has a fifty day moving average price of $19.13 and a two-hundred day moving average price of $20.04. Photronics, Inc. has a 52 week low of $16.46 and a 52 week high of $31.60. The firm has a market capitalization of $1.21 billion, a PE ratio of 10.51 and a beta of 1.40.

Photronics (NASDAQ:PLAB - Get Free Report) last posted its earnings results on Wednesday, May 28th. The semiconductor company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.08). The business had revenue of $210.99 million during 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 was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 EPS. On average, equities research analysts forecast that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLAB. DA Davidson cut their price target on Photronics from $35.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Wall Street Zen lowered shares of Photronics from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Craig Hallum began coverage on shares of Photronics in a report on Wednesday, June 11th. They issued a "buy" rating and a $32.00 price target for the company.

Insider Buying and Selling

In related news, Director David A. Garcia acquired 2,650 shares of the company's stock in a transaction on Friday, June 27th. The stock was purchased at an average cost of $19.00 per share, for a total transaction of $50,350.00. Following the completion of the purchase, the director directly owned 10,198 shares of the company's stock, valued at $193,762. The trade was a 35.11% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kang Jyh Lee sold 4,882 shares of the business'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 $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. Corporate insiders own 3.20% of the company's stock.

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.