Voya Investment Management LLC Buys 28,345 Shares of Photronics, Inc. $PLAB

Key Points

• Voya Investment Management LLC increased its holdings in Photronics, Inc. by 16.1% in the first quarter, now owning approximately $4.24 million worth of shares.
• Several institutional investors, including American Century Companies Inc. and Invesco Ltd., have also boosted their investments in Photronics, leading to 88.38% ownership of the company's stock by institutional investors.
• Photronics recently reported an EPS of $0.51 for the latest quarter, surpassing analysts' expectations, and has a consensus rating of "Buy" with an average price target of $31.00 according to analysts.

Voya Investment Management LLC boosted its position in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) by 16.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,238 shares of the semiconductor company's stock after acquiring an additional 28,345 shares during the quarter. Voya Investment Management LLC owned 0.34% of Photronics worth $4,240,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLAB. SummerHaven Investment Management LLC raised its position in shares of Photronics by 2.1% in the first quarter. SummerHaven Investment Management LLC now owns 30,540 shares of the semiconductor company's stock valued at $634,000 after purchasing an additional 625 shares during the period. Perkins Coie Trust Co grew its stake in shares of Photronics by 11.9% in the first quarter. Perkins Coie Trust Co now owns 9,400 shares of the semiconductor company's stock valued at $195,000 after acquiring an additional 1,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Photronics by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,047 shares of the semiconductor company's stock worth $826,000 after buying an additional 1,197 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in Photronics by 4.8% during the first quarter. Illinois Municipal Retirement Fund now owns 31,525 shares of the semiconductor company's stock worth $654,000 after buying an additional 1,440 shares in the last quarter. Finally, Martingale Asset Management L P grew its stake in Photronics by 1.6% during the first quarter. Martingale Asset Management L P now owns 97,138 shares of the semiconductor company's stock worth $2,017,000 after buying an additional 1,483 shares in the last quarter. 88.38% of the stock is owned by institutional investors.

Insider Activity

In other Photronics news, Director Mitchell G. Tyson sold 15,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the director owned 56,927 shares in the company, valued at approximately $1,136,832.19. This trade represents a 20.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Constantine S. Macricostas sold 29,500 shares of Photronics stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $20.20, for a total transaction of $595,900.00. Following the completion of the sale, the director owned 459,623 shares of the company's stock, valued at $9,284,384.60. This represents a 6.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,500 shares of company stock worth $1,444,750. 3.20% of the stock is owned by insiders.

Photronics Price Performance

NASDAQ PLAB traded down $0.05 during trading hours on Friday, reaching $24.94. The company's stock had a trading volume of 2,740,091 shares, compared to its average volume of 794,730. Photronics, Inc. has a 52 week low of $16.46 and a 52 week high of $31.60. The firm has a fifty day simple moving average of $21.30 and a 200-day simple moving average of $19.98. The stock has a market cap of $1.47 billion, a P/E ratio of 14.17 and a beta of 1.53.

Photronics (NASDAQ:PLAB - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.12. Photronics had a net margin of 12.67% and a return on equity of 8.19%. The firm had revenue of $210.39 million during the quarter, compared to analyst estimates of $204.30 million. During the same quarter last year, the business earned $0.51 EPS. The company's revenue was down .3% compared to the same quarter last year. Photronics has set its Q4 2025 guidance at 0.420-0.480 EPS. On average, research analysts expect that Photronics, Inc. will post 2.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLAB has been the topic of a number of analyst reports. Craig Hallum initiated coverage on shares of Photronics in a research note on Wednesday, June 11th. They set a "buy" rating and a $32.00 price objective on the stock. DA Davidson reduced their price objective on shares of Photronics from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Singular Research upgraded shares of Photronics to a "strong-buy" rating in a research note on Thursday, September 4th. Finally, Wall Street Zen upgraded shares of Photronics from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat.com, Photronics currently has an average rating of "Buy" and a consensus target price 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.