Photronics, Inc. (PLAB) Shares Bought by Metropolitan Life Insurance Co. NY
Metropolitan Life Insurance Co. NY boosted its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 4.7% during the first quarter, Holdings Channel reports. The firm owned 44,589 shares of the semiconductor company’s stock after buying an additional 1,987 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Photronics were worth $477,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Stevens Capital Management LP purchased a new position in shares of Photronics during the first quarter valued at about $145,000. Princeton Alpha Management LP boosted its position in shares of Photronics by 24.2% in the first quarter. Princeton Alpha Management LP now owns 15,950 shares of the semiconductor company’s stock valued at $171,000 after buying an additional 3,105 shares during the period. Fox Run Management L.L.C. boosted its position in shares of Photronics by 27.0% in the first quarter. Fox Run Management L.L.C. now owns 19,300 shares of the semiconductor company’s stock valued at $207,000 after buying an additional 4,100 shares during the period. Virginia Retirement Systems ET AL purchased a new position in shares of Photronics during the first quarter valued at about $215,000. Finally, Citadel Advisors LLC purchased a new position in shares of Photronics during the first quarter valued at about $218,000. Institutional investors own 97.86% of the company’s stock.
Photronics, Inc. (NASDAQ PLAB) traded down 0.52% during midday trading on Friday, hitting $9.50. The stock had a trading volume of 307,714 shares. Photronics, Inc. has a one year low of $8.20 and a one year high of $12.10. The stock’s 50-day moving average is $9.84 and its 200-day moving average is $10.61. The company has a market cap of $654.28 million, a P/E ratio of 38.31 and a beta of 0.48.
Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Wednesday, May 17th. The semiconductor company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.02. Photronics had a net margin of 3.81% and a return on equity of 1.84%. The firm had revenue of $108.30 million during the quarter, compared to the consensus estimate of $111.16 million. During the same quarter in the prior year, the company earned $0.13 EPS. Photronics’s quarterly revenue was down 11.9% on a year-over-year basis. Equities analysts predict that Photronics, Inc. will post $0.28 EPS for the current fiscal year.
Several brokerages have recently issued reports on PLAB. BidaskClub cut Photronics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research cut Photronics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, ValuEngine upgraded Photronics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $12.83.
In related news, VP Christopher J. Progler sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $10.05, for a total value of $40,200.00. Following the completion of the sale, the vice president now owns 78,900 shares in the company, valued at approximately $792,945. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.71% of the stock is owned by corporate insiders.
Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. As of October 30, 2016, the Company operated principally from nine manufacturing facilities: two located in Europe, three in Taiwan, one in Korea and three in the United States.
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