Meeder Asset Management Inc. Has $1.16 Million Stake in Photronics, Inc. (NASDAQ:PLAB)

Meeder Asset Management Inc. raised its holdings in Photronics, Inc. (NASDAQ:PLAB) by 36.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,133 shares of the semiconductor company’s stock after buying an additional 13,014 shares during the period. Meeder Asset Management Inc. owned 0.08% of Photronics worth $1,158,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in shares of Photronics by 216.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 762 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Photronics by 65.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 904 shares in the last quarter. GAMMA Investing LLC increased its holdings in 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 buying an additional 516 shares during the last quarter. KBC Group NV raised its position in 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Photronics in the third quarter valued at $112,000. Institutional investors own 88.38% of the company’s stock.

Analyst Ratings Changes

Separately, DA Davidson boosted their price objective 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 Buying and Selling

In related news, Director Walter M. Fiederowicz sold 10,000 shares of Photronics stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $24.13, for a total transaction of $241,300.00. Following the completion of the sale, the director now directly owns 32,000 shares of the company’s stock, valued at approximately $772,160. This trade represents a 23.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kang Jyh Lee sold 17,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total value of $421,750.00. Following the completion of the sale, the chief executive officer now owns 510,850 shares of the company’s stock, valued at $12,311,485. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,500 shares of company stock valued at $1,829,138. Company insiders own 3.20% of the company’s stock.

Photronics Stock Down 3.2 %

PLAB opened at $20.60 on Monday. Photronics, Inc. has a 12-month low of $19.61 and a 12-month high of $31.60. The business has a 50 day moving average of $21.94 and a 200-day moving average of $23.48. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 9.86 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The business had revenue of $212.14 million during the quarter, compared to the consensus estimate of $210.00 million. During the same quarter last year, the firm posted $0.48 EPS. As a group, analysts expect that Photronics, Inc. will post 2.3 earnings per share 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.