Photronics, Inc. $PLAB Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Photronics, Inc. to 9.29%, acquiring an additional 38,330 shares during the first quarter, bringing its total shares to 5,907,219, valued at approximately $122.6 million.
• Insider trading activity included Director David A. Garcia purchasing 2,650 shares, boosting his ownership by 35%, while Director Mitchell G. Tyson sold 15,000 shares, resulting in a 20.85% decrease in his stake.
• Photronics reported a decline in revenue and missed earnings expectations, with $0.40 earnings per share compared to the consensus estimate of $0.48, leading analysts to revise their ratings and price targets for the stock.

Vanguard Group Inc. grew its holdings in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,907,219 shares of the semiconductor company's stock after acquiring an additional 38,330 shares during the period. Vanguard Group Inc. owned about 9.29% of Photronics worth $122,634,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Menard Financial Group LLC purchased a new stake in Photronics during the fourth quarter worth $66,000. Canada Pension Plan Investment Board purchased a new stake in Photronics during the fourth quarter worth $101,000. Heck Capital Advisors LLC purchased a new stake in Photronics during the fourth quarter worth $110,000. CWM LLC raised its position in Photronics by 36.1% during the first quarter. CWM LLC now owns 6,755 shares of the semiconductor company's stock worth $140,000 after acquiring an additional 1,793 shares during the period. Finally, Lido Advisors LLC acquired a new position in Photronics during the fourth quarter worth $218,000. 88.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Photronics

In other Photronics news, Director Mitchell G. Tyson sold 15,000 shares of Photronics 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 completion of the sale, the director directly owned 56,927 shares in the company, valued at $1,136,832.19. This trade represents a 20.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Garcia purchased 2,650 shares of the company's stock in a transaction on Friday, June 27th. The shares were bought at an average price of $19.00 per share, with a total value of $50,350.00. Following the completion of the transaction, the director owned 10,198 shares of the company's stock, valued at approximately $193,762. The trade was a 35.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 49,382 shares of company stock valued at $985,035 in the last ninety days. Insiders own 3.20% of the company's stock.

Photronics Stock Performance

Shares of NASDAQ PLAB traded up $1.70 during mid-day trading on Wednesday, reaching $23.97. The company's stock had a trading volume of 2,140,723 shares, compared to its average volume of 509,385. The stock has a 50-day moving average of $20.07 and a two-hundred day moving average of $19.85. The stock has a market capitalization of $1.44 billion, a P/E ratio of 12.48 and a beta of 1.40. Photronics, Inc. has a 1-year low of $16.46 and a 1-year high of $31.60.

Photronics (NASDAQ:PLAB - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The semiconductor company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.12. Photronics had a return on equity of 8.54% and a net margin of 14.00%.The company had revenue of $210.39 million for the quarter, compared to analyst estimates of $204.30 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The firm's revenue for the quarter was down .3% compared to the same quarter last year. Photronics has set its Q4 2025 guidance at 0.420-0.480 EPS. Analysts predict that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.