Photronics, Inc. (NASDAQ:PLAB) Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd lessened its holdings in shares of Photronics, Inc. (NASDAQ:PLABGet Rating) by 78.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 18,640 shares of the semiconductor company’s stock after selling 69,864 shares during the quarter. WINTON GROUP Ltd’s holdings in Photronics were worth $363,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Covestor Ltd lifted its holdings in shares of Photronics by 587.5% in the first quarter. Covestor Ltd now owns 2,427 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 2,074 shares during the period. Nisa Investment Advisors LLC acquired a new stake in shares of Photronics in the second quarter valued at $51,000. Federated Hermes Inc. lifted its holdings in shares of Photronics by 77.5% in the first quarter. Federated Hermes Inc. now owns 2,798 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 1,222 shares during the period. National Bank of Canada FI acquired a new stake in shares of Photronics in the first quarter valued at $48,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Photronics in the first quarter valued at $59,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Photronics Trading Up 1.2 %

Shares of NASDAQ PLAB opened at $19.02 on Friday. Photronics, Inc. has a 12 month low of $13.16 and a 12 month high of $25.81. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 11.12 and a beta of 1.13. The company has a quick ratio of 3.18, a current ratio of 3.44 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $16.04 and a 200-day simple moving average of $18.55.

Photronics (NASDAQ:PLABGet Rating) last posted its quarterly earnings results on Tuesday, August 30th. The semiconductor company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $219.90 million for the quarter, compared to analyst estimates of $210.00 million. Photronics had a return on equity of 9.97% and a net margin of 13.07%. Photronics’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. Sell-side analysts predict that Photronics, Inc. will post 1.84 EPS for the current year.

Insider Activity at Photronics

In related news, Director Mitchell G. Tyson sold 2,000 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $15.00, for a total transaction of $30,000.00. Following the transaction, the director now directly owns 62,379 shares of the company’s stock, valued at $935,685. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on PLAB shares. StockNews.com lowered Photronics from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 15th. DA Davidson reduced their target price on Photronics from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, August 31st.

Photronics Company Profile

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

See Also

Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

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