Prudential Financial Inc. Has $4,942,000 Position in Photronics Inc. (PLAB)
Prudential Financial Inc. increased its stake in shares of Photronics Inc. (NASDAQ:PLAB) by 162.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 554,648 shares of the company’s stock after buying an additional 343,100 shares during the period. Prudential Financial Inc. owned approximately 0.81% of Photronics worth $4,942,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in PLAB. Hancock Holding Co. raised its stake in Photronics by 4.1% in the second quarter. Hancock Holding Co. now owns 70,765 shares of the company’s stock valued at $631,000 after buying an additional 2,817 shares in the last quarter. Acrospire Investment Management LLC raised its stake in Photronics by 85.5% in the second quarter. Acrospire Investment Management LLC now owns 20,705 shares of the company’s stock valued at $184,000 after buying an additional 9,545 shares in the last quarter. Victory Capital Management Inc. raised its stake in Photronics by 6.7% in the second quarter. Victory Capital Management Inc. now owns 57,094 shares of the company’s stock valued at $509,000 after buying an additional 3,591 shares in the last quarter. Icon Advisers Inc. Co. bought a new stake in Photronics during the second quarter valued at $150,000. Finally, Nationwide Fund Advisors raised its stake in Photronics by 1.6% in the second quarter. Nationwide Fund Advisors now owns 57,469 shares of the company’s stock valued at $512,000 after buying an additional 893 shares in the last quarter. Institutional investors own 98.92% of the company’s stock.
Shares of Photronics Inc. (NASDAQ:PLAB) opened at 10.18 on Friday. The company’s 50-day moving average price is $10.11 and its 200-day moving average price is $9.85. Photronics Inc. has a 52-week low of $8.56 and a 52-week high of $13.05. The company has a market capitalization of $694.13 million, a price-to-earnings ratio of 12.49 and a beta of 0.85.
Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Thursday, August 18th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The company had revenue of $123.20 million for the quarter, compared to analyst estimates of $123.54 million. Photronics had a return on equity of 6.07% and a net margin of 11.50%. The company’s revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share. Equities research analysts forecast that Photronics Inc. will post $0.55 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on the company. SunTrust Banks Inc. set a $12.00 price objective on Photronics and gave the company a “buy” rating in a research note on Tuesday, October 4th. Zacks Investment Research lowered Photronics from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Finally, DA Davidson restated a “buy” rating and set a $15.00 price target on shares of Photronics in a research report on Monday, August 22nd.
In other Photronics news, Director Walter M. Fiederowicz sold 21,250 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $9.95, for a total transaction of $211,437.50. Following the completion of the sale, the director now directly owns 42,250 shares in the company, valued at $420,387.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph A. Fiorita, Jr. sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $10.00, for a total transaction of $120,000.00. Following the sale, the director now owns 161,100 shares of the company’s stock, valued at $1,611,000. The disclosure for this sale can be found here. Company insiders own 4.12% of the company’s stock.
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.
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