Wedge Capital Management L L P NC Cuts Stock Holdings in Photronics, Inc. $PLAB

Key Points

• Wedge Capital Management L L P NC cut its stake in Photronics by 43.0% in Q4, selling 61,725 shares and leaving 81,702 shares valued at about $2.61 million (roughly 0.14% ownership).
• Analysts are broadly positive with a consensus rating of Moderate Buy and an average price target of $46.33, and several firms (DA Davidson, Lake Street, Craig Hallum) have issued Buy ratings with targets in the $45–48 range.
• Photronics reported Q4 EPS of $0.61 (beats $0.54 estimate) on $225.1M revenue (up 6.1% YoY), set Q2 guidance of $0.49–$0.55, and insiders sold about 98,750 shares over the past three months.

Wedge Capital Management L L P NC reduced its position in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 43.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,702 shares of the semiconductor company's stock after selling 61,725 shares during the period. Wedge Capital Management L L P NC owned about 0.14% of Photronics worth $2,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Photronics by 66.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,296 shares of the semiconductor company's stock valued at $457,000 after acquiring an additional 5,714 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Photronics in the fourth quarter worth about $55,000. GAMMA Investing LLC boosted its position in Photronics by 21.9% during the fourth quarter. GAMMA Investing LLC now owns 2,609 shares of the semiconductor company's stock worth $83,000 after acquiring an additional 469 shares during the last quarter. Morningstar Investment Management LLC acquired a new stake in Photronics during the third quarter worth about $1,649,000. Finally, Caxton Associates LLP acquired a new position in Photronics in the 3rd quarter valued at about $1,006,000. 88.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on PLAB. DA Davidson raised their target price on Photronics from $30.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, December 11th. Zacks Research downgraded shares of Photronics from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 10th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Photronics in a research report on Friday. Lake Street Capital assumed coverage on shares of Photronics in a report on Friday, March 20th. They issued a "buy" rating and a $46.00 target price for the company. Finally, Craig Hallum restated a "buy" rating and set a $48.00 price target on shares of Photronics in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $46.33.

Photronics Stock Performance

Shares of PLAB opened at $39.60 on Monday. Photronics, Inc. has a 1 year low of $16.46 and a 1 year high of $45.40. The stock has a market capitalization of $2.34 billion, a PE ratio of 16.85 and a beta of 1.50. The stock has a 50-day simple moving average of $36.66 and a 200-day simple moving average of $30.10.

Photronics (NASDAQ:PLAB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The semiconductor company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.07. Photronics had a net margin of 15.83% and a return on equity of 7.88%. The business had revenue of $225.07 million for the quarter, compared to analyst estimates of $220.09 million. During the same period last year, the business earned $0.52 EPS. The company's revenue was up 6.1% on a year-over-year basis. Photronics has set its Q2 2026 guidance at 0.490-0.550 EPS. Analysts predict that Photronics, Inc. will post 2.3 EPS for the current year.

Insider Activity at Photronics

In other Photronics news, SVP Han Kyung Park sold 7,500 shares of the stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $33.70, for a total value of $252,750.00. Following the transaction, the senior vice president directly owned 81,750 shares in the company, valued at $2,754,975. This represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kang Jyh Lee sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $34.13, for a total transaction of $341,300.00. Following the sale, the director directly owned 410,850 shares in the company, valued at approximately $14,022,310.50. The trade was a 2.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 98,750 shares of company stock valued at $3,442,425 over the last three months. 3.30% of the stock is owned by corporate insiders.

Photronics Company Profile

Photronics, Inc is a leading global supplier of photomask products used in the manufacture of integrated circuits, flat panel displays, microelectromechanical systems (MEMS), and advanced packaging applications. Photomasks, also known as reticles, are critical templates that carry the precise circuit patterns required for semiconductor lithography processes. The company offers a comprehensive range of mask solutions, including binary masks, attenuated phase-shift masks, reticles for micro-optics, and specialized products for high‐resolution applications.

Founded in 1969 and headquartered in Brookfield, Connecticut, Photronics has grown through organic expansion and strategic investments in high‐end lithography technology.

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