Walthausen & Co. LLC cut its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 133,277 shares of the semiconductor company’s stock after selling 13,030 shares during the quarter. Walthausen & Co. LLC’s holdings in Photronics were worth $2,100,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Emerald Advisers LLC purchased a new position in shares of Photronics during the 4th quarter worth $51,000. AJO LP purchased a new position in shares of Photronics during the 4th quarter worth $54,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Photronics during the 4th quarter worth $58,000. Aigen Investment Management LP purchased a new position in shares of Photronics during the 4th quarter worth $89,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Photronics during the 4th quarter worth $99,000. Institutional investors and hedge funds own 94.78% of the company’s stock.
PLAB traded up $0.72 during mid-day trading on Thursday, hitting $10.74. 676,063 shares of the stock were exchanged, compared to its average volume of 737,025. The firm’s fifty day moving average is $12.47 and its two-hundred day moving average is $12.74. Photronics, Inc. has a 1-year low of $7.95 and a 1-year high of $16.75. The company has a current ratio of 2.80, a quick ratio of 2.48 and a debt-to-equity ratio of 0.04. The company has a market cap of $660.97 million, a PE ratio of 19.89 and a beta of 0.59.
Photronics (NASDAQ:PLAB) last posted its earnings results on Wednesday, March 4th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. Photronics had a return on equity of 3.85% and a net margin of 5.95%. The firm had revenue of $159.70 million for the quarter, compared to analyst estimates of $150.50 million. During the same quarter in the prior year, the company earned $0.08 EPS. Photronics’s revenue was up 28.1% on a year-over-year basis. As a group, research analysts anticipate that Photronics, Inc. will post 0.74 earnings per share for the current year.
A number of equities analysts have recently weighed in on the company. DA Davidson reiterated a “buy” rating and set a $18.00 price target on shares of Photronics in a report on Thursday, December 12th. BidaskClub raised Photronics from a “sell” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus raised Photronics from a “hold” rating to a “buy” rating and increased their target price for the stock from $11.00 to $16.00 in a research note on Sunday, February 9th. Zacks Investment Research lowered Photronics from a “hold” rating to a “sell” rating in a research note on Friday, March 13th. Finally, TheStreet raised Photronics from a “c” rating to a “b-” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Photronics presently has an average rating of “Hold” and an average price target of $16.75.
In other Photronics news, CEO Peter S. Kirlin sold 18,107 shares of the stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $15.92, for a total value of $288,263.44. Following the sale, the chief executive officer now owns 304,053 shares of the company’s stock, valued at approximately $4,840,523.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher J. Progler sold 3,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the sale, the vice president now directly owns 101,733 shares in the company, valued at approximately $1,627,728. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,293 shares of company stock worth $1,058,599. 3.82% of the stock is owned by corporate insiders.
Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz or glass plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.
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