Ashton Thomas Private Wealth LLC Acquires Shares of 16,497 Photronics, Inc. (NASDAQ:PLAB)

Ashton Thomas Private Wealth LLC acquired a new stake in shares of Photronics, Inc. (NASDAQ:PLAB) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 16,497 shares of the semiconductor company’s stock, valued at approximately $389,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PLAB. Creative Planning bought a new stake in Photronics during the 3rd quarter valued at about $250,000. US Bancorp DE increased its stake in Photronics by 137.2% during the 3rd quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 701 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Photronics by 21.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,930 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 1,066 shares in the last quarter. Victory Capital Management Inc. increased its stake in Photronics by 4.9% during the 3rd quarter. Victory Capital Management Inc. now owns 530,401 shares of the semiconductor company’s stock valued at $13,133,000 after purchasing an additional 24,834 shares in the last quarter. Finally, Royce & Associates LP increased its stake in Photronics by 1.7% during the 3rd quarter. Royce & Associates LP now owns 746,606 shares of the semiconductor company’s stock valued at $18,486,000 after purchasing an additional 12,603 shares in the last quarter. 88.38% of the stock is currently owned by institutional investors.

Photronics Stock Down 3.6 %

Shares of PLAB stock opened at $20.93 on Tuesday. The company has a 50 day moving average price of $22.72 and a 200-day moving average price of $23.73. Photronics, Inc. has a 52 week low of $19.61 and a 52 week high of $31.60. The firm has a market capitalization of $1.33 billion, a PE ratio of 10.01 and a beta of 1.43.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The firm had revenue of $212.14 million during the quarter, compared to analyst estimates of $210.00 million. During the same period in the previous year, the business posted $0.48 earnings per share. Analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Photronics

In related news, CEO Kang Jyh Lee sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $20.90, for a total transaction of $209,000.00. Following the completion of the sale, the chief executive officer now directly owns 552,100 shares in the company, valued at approximately $11,538,890. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Adam M. Lewis sold 19,750 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $24.11, for a total transaction of $476,172.50. Following the sale, the director now owns 22,250 shares of the company’s stock, valued at $536,447.50. This trade represents a 47.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 209,000 shares of company stock worth $5,087,810 over the last three months. 3.20% of the stock is currently 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.