Hodges Capital Management Inc. Has $4.97 Million Stock Position in Photronics, Inc. (NASDAQ:PLAB)

Hodges Capital Management Inc. grew its holdings in Photronics, Inc. (NASDAQ:PLAB) by 38.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 210,975 shares of the semiconductor company’s stock after acquiring an additional 58,590 shares during the quarter. Hodges Capital Management Inc.’s holdings in Photronics were worth $4,970,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Barclays PLC grew its position in Photronics by 297.2% in the third quarter. Barclays PLC now owns 114,133 shares of the semiconductor company’s stock valued at $2,826,000 after purchasing an additional 85,397 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Photronics by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock worth $43,217,000 after buying an additional 85,160 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Photronics in the 2nd quarter valued at about $1,603,000. Easterly Investment Partners LLC increased its position in shares of Photronics by 17.8% in the third quarter. Easterly Investment Partners LLC now owns 411,188 shares of the semiconductor company’s stock valued at $10,181,000 after acquiring an additional 62,201 shares during the last quarter. Finally, Needham Investment Management LLC raised its holdings in Photronics by 6.7% during the third quarter. Needham Investment Management LLC now owns 762,500 shares of the semiconductor company’s stock worth $18,880,000 after acquiring an additional 48,200 shares in the last quarter. Institutional investors own 88.38% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson raised their price target on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 12th.

Photronics Trading Down 0.3 %

NASDAQ PLAB opened at $22.99 on Monday. The firm has a market capitalization of $1.46 billion, a P/E ratio of 11.00 and a beta of 1.37. The firm’s fifty day moving average price is $24.41 and its two-hundred day moving average price is $24.11. Photronics, Inc. has a 1 year low of $20.25 and a 1 year high of $34.16.

Photronics (NASDAQ:PLAB) last issued its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.07. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The business had revenue of $222.60 million during the quarter, compared to the consensus estimate of $218.00 million. During the same period last year, the business posted $0.60 EPS. Photronics’s revenue was down 2.2% on a year-over-year basis. On average, research analysts anticipate that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Insider Transactions at Photronics

In other Photronics news, CEO Kang Jyh Lee sold 20,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $25.27, for a total value of $505,400.00. Following the transaction, the chief executive officer now directly owns 524,600 shares of the company’s stock, valued at $13,256,642. This represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Han Kyung Park sold 11,250 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $23.80, for a total transaction of $267,750.00. Following the sale, the senior vice president now owns 102,500 shares of the company’s stock, valued at $2,439,500. This trade represents a 9.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 199,000 shares of company stock worth $4,878,810. 3.88% of the stock is owned by company insiders.

Photronics Profile

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates.