Tectonic Advisors LLC Boosts Stake in Photronics, Inc. (NASDAQ:PLAB)

Tectonic Advisors LLC boosted its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,268 shares of the semiconductor company’s stock after purchasing an additional 1,950 shares during the period. Tectonic Advisors LLC owned about 0.06% of Photronics worth $878,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Photronics by 17.6% during the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company’s stock valued at $81,000 after buying an additional 516 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Photronics by 65.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 567 shares during the period. US Bancorp DE lifted its holdings in Photronics by 137.2% during the third 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. Koss Olinger Consulting LLC boosted its position in shares of Photronics by 4.3% in the third quarter. Koss Olinger Consulting LLC now owns 18,714 shares of the semiconductor company’s stock worth $463,000 after purchasing an additional 780 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Photronics by 21.9% in the third quarter. Farther Finance Advisors LLC now owns 5,930 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 1,066 shares in the last quarter. Institutional investors own 88.38% of the company’s stock.

Photronics Trading Up 1.5 %

NASDAQ:PLAB opened at $22.85 on Thursday. The stock has a 50-day moving average price of $24.29 and a 200 day moving average price of $24.06. The stock has a market capitalization of $1.45 billion, a P/E ratio of 10.93 and a beta of 1.37. Photronics, Inc. has a 12-month low of $20.25 and a 12-month high of $34.16.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $218.00 million. During the same period last year, the firm posted $0.60 EPS. The company’s revenue was down 2.2% on a year-over-year basis. On average, research analysts predict that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Photronics

In related news, CEO Kang Jyh Lee sold 8,750 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $24.40, for a total value of $213,500.00. Following the sale, the chief executive officer now owns 572,100 shares in the company, valued at approximately $13,959,240. The trade was a 1.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Adam M. Lewis sold 19,750 shares of Photronics stock in a transaction on Friday, December 20th. The stock was sold at an average price of $24.11, for a total transaction of $476,172.50. Following the completion of the transaction, the director now directly owns 22,250 shares of the company’s stock, valued at $536,447.50. The trade was a 47.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 199,000 shares of company stock worth $4,878,810. Insiders own 3.88% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DA Davidson lifted their target price 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.

Photronics Company 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.