Photronics, Inc. (PLAB) Shares Bought by Citadel Advisors LLC
Citadel Advisors LLC raised its stake in Photronics, Inc. (NASDAQ:PLAB) by 284.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,173 shares of the semiconductor company’s stock after acquiring an additional 370,149 shares during the period. Citadel Advisors LLC owned 0.73% of Photronics worth $4,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Donald Smith & CO. Inc. raised its holdings in shares of Photronics by 18.8% in the second quarter. Donald Smith & CO. Inc. now owns 5,267,874 shares of the semiconductor company’s stock valued at $49,518,000 after buying an additional 835,254 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Photronics by 3.2% in the second quarter. Vanguard Group Inc. now owns 2,952,069 shares of the semiconductor company’s stock valued at $27,750,000 after buying an additional 91,349 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Photronics by 10.2% in the third quarter. Bank of New York Mellon Corp now owns 2,190,402 shares of the semiconductor company’s stock valued at $19,386,000 after buying an additional 203,240 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Photronics by 24.1% during the second quarter. Alliancebernstein L.P. now owns 2,135,442 shares of the semiconductor company’s stock worth $20,073,000 after purchasing an additional 414,930 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Photronics by 1.2% during the second quarter. Renaissance Technologies LLC now owns 2,023,000 shares of the semiconductor company’s stock worth $19,016,000 after purchasing an additional 23,200 shares in the last quarter. 94.64% of the stock is owned by institutional investors and hedge funds.
In other Photronics news, SVP Sean T. Smith sold 25,000 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $9.19, for a total value of $229,750.00. Following the completion of the transaction, the senior vice president now directly owns 165,358 shares of the company’s stock, valued at $1,519,640.02. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Christopher J. Progler sold 4,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $8.85, for a total transaction of $35,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,500 shares of company stock valued at $642,213. 3.71% of the stock is currently owned by corporate insiders.
Photronics, Inc. (NASDAQ:PLAB) traded down $0.22 during midday trading on Friday, reaching $9.43. 381,109 shares of the company traded hands, compared to its average volume of 573,431. The stock has a market capitalization of $675.60, a PE ratio of 55.00, a P/E/G ratio of 1.95 and a beta of 0.54. Photronics, Inc. has a 52-week low of $7.55 and a 52-week high of $12.10. The company has a quick ratio of 5.59, a current ratio of 5.91 and a debt-to-equity ratio of 0.07.
Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Wednesday, November 29th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The firm had revenue of $121.00 million during the quarter, compared to analysts’ expectations of $112.17 million. Photronics had a net margin of 2.97% and a return on equity of 1.33%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 earnings per share. equities research analysts predict that Photronics, Inc. will post 0.19 earnings per share for the current year.
Several research firms recently issued reports on PLAB. DA Davidson reissued a “buy” rating and set a $13.00 price target on shares of Photronics in a report on Monday. Zacks Investment Research raised shares of Photronics from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, BidaskClub cut shares of Photronics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th.
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Photronics Company Profile
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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