Photronics Inc. (PLAB) Shares Sold by Alps Advisors Inc.
Alps Advisors Inc. decreased its stake in shares of Photronics Inc. (NASDAQ:PLAB) by 6.8% during the second quarter, Holdings Channel reports. The institutional investor owned 40,400 shares of the company’s stock after selling 2,969 shares during the period. Alps Advisors Inc.’s holdings in Photronics were worth $360,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Strs Ohio raised its stake in shares of Photronics by 22.4% in the second quarter. Strs Ohio now owns 80,900 shares of the company’s stock valued at $720,000 after buying an additional 14,800 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Photronics during the second quarter valued at about $2,183,000. Punch & Associates Investment Management Inc. raised its stake in shares of Photronics by 14.9% in the second quarter. Punch & Associates Investment Management Inc. now owns 471,173 shares of the company’s stock valued at $4,198,000 after buying an additional 61,028 shares in the last quarter. Magnetar Financial LLC raised its stake in shares of Photronics by 67.4% in the first quarter. Magnetar Financial LLC now owns 17,804 shares of the company’s stock valued at $185,000 after buying an additional 7,167 shares in the last quarter. Finally, A.R.T. Advisors LLC raised its stake in shares of Photronics by 104.8% in the first quarter. A.R.T. Advisors LLC now owns 84,992 shares of the company’s stock valued at $884,000 after buying an additional 43,500 shares in the last quarter. 98.92% of the stock is owned by hedge funds and other institutional investors.
Shares of Photronics Inc. (NASDAQ:PLAB) traded down 0.38% on Wednesday, reaching $10.55. The company’s stock had a trading volume of 270,462 shares. Photronics Inc. has a 12-month low of $8.56 and a 12-month high of $13.05. The company has a market capitalization of $719.36 million, a price-to-earnings ratio of 12.94 and a beta of 0.85. The company’s 50-day moving average is $10.02 and its 200 day moving average is $9.84.
Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Thursday, August 18th. The company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.02. Photronics had a return on equity of 6.07% and a net margin of 11.50%. The business earned $123.20 million during the quarter, compared to analysts’ expectations of $123.54 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. Equities analysts anticipate that Photronics Inc. will post $0.55 earnings per share for the current fiscal year.
PLAB has been the subject of several research reports. Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a research note on Friday, June 24th. DA Davidson reiterated a “buy” rating and set a $15.00 price target on shares of Photronics in a research note on Monday, August 22nd. Finally, SunTrust Banks Inc. set a $12.00 price target on Photronics and gave the stock a “buy” rating in a research note on Tuesday, October 4th.
In other news, Director Walter M. Fiederowicz sold 21,250 shares of the business’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $9.95, for a total value of $211,437.50. Following the completion of the transaction, the director now owns 42,250 shares in the company, valued at $420,387.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph A. Fiorita, Jr. sold 12,000 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $10.00, for a total value of $120,000.00. Following the completion of the transaction, the director now owns 161,100 shares of the company’s stock, valued at approximately $1,611,000. The disclosure for this sale can be found here. 4.12% of the stock is owned by insiders.
Photronics Company Profile
Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. The Company supports customers across the full spectrum of integrated circuit (IC) production and flat panel display (FPD) technologies by manufacturing photomasks using electron beam or optical (laser-based) systems.
Want to see what other hedge funds are holding PLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Photronics Inc. (NASDAQ:PLAB).
Receive News & Ratings for Photronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Photronics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.