Denali Advisors LLC Purchases Shares of 56,000 Photronics, Inc. (NASDAQ:PLAB)

Denali Advisors LLC acquired a new position in shares of Photronics, Inc. (NASDAQ:PLAB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 56,000 shares of the semiconductor company’s stock, valued at approximately $1,319,000. Denali Advisors LLC owned about 0.09% of Photronics at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. US Bancorp DE boosted its position in shares of Photronics by 137.2% in 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 during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Photronics by 65.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 567 shares during the period. GAMMA Investing LLC grew its position in shares of Photronics by 17.6% during the fourth quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 516 shares during the last quarter. KBC Group NV grew its position in shares of Photronics by 76.8% during the fourth quarter. KBC Group NV now owns 3,467 shares of the semiconductor company’s stock worth $82,000 after acquiring an additional 1,506 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Photronics in the 3rd quarter valued at $112,000. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Photronics

In related news, EVP Christopher J. Progler sold 63,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $24.85, for a total transaction of $1,565,550.00. Following the completion of the transaction, the executive vice president now directly owns 219,166 shares of the company’s stock, valued at $5,446,275.10. This represents a 22.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Han Kyung Park sold 11,250 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $23.80, for a total transaction of $267,750.00. Following the completion of the sale, the senior vice president now owns 102,500 shares of the company’s stock, valued at approximately $2,439,500. The trade was a 9.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 199,000 shares of company stock worth $4,878,810 in the last three months. Insiders own 3.20% of the company’s stock.

Photronics Stock Performance

Shares of PLAB opened at $21.10 on Thursday. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $31.60. The firm has a 50-day simple moving average of $23.25 and a 200-day simple moving average of $23.87. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 10.10 and a beta of 1.37.

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

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.