Kendall Capital Management Decreases Stock Holdings in Photronics, Inc. $PLAB

Kendall Capital Management lowered its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 9.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,730 shares of the semiconductor company’s stock after selling 4,815 shares during the quarter. Kendall Capital Management owned about 0.08% of Photronics worth $861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SummerHaven Investment Management LLC lifted its stake in shares of Photronics by 2.1% in the first quarter. SummerHaven Investment Management LLC now owns 30,540 shares of the semiconductor company’s stock worth $634,000 after buying an additional 625 shares in the last quarter. Perkins Coie Trust Co lifted its stake in shares of Photronics by 11.9% in the first quarter. Perkins Coie Trust Co now owns 9,400 shares of the semiconductor company’s stock worth $195,000 after buying an additional 1,000 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Photronics by 4.8% in the first quarter. Illinois Municipal Retirement Fund now owns 31,525 shares of the semiconductor company’s stock worth $654,000 after buying an additional 1,440 shares in the last quarter. Martingale Asset Management L P lifted its stake in shares of Photronics by 1.6% in the first quarter. Martingale Asset Management L P now owns 97,138 shares of the semiconductor company’s stock worth $2,017,000 after buying an additional 1,483 shares in the last quarter. Finally, Alps Advisors Inc. lifted its stake in shares of Photronics by 10.3% in the first quarter. Alps Advisors Inc. now owns 16,694 shares of the semiconductor company’s stock worth $347,000 after buying an additional 1,558 shares in the last quarter. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Craig Hallum initiated coverage on shares of Photronics in a research note on Wednesday, June 11th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Singular Research upgraded shares of Photronics to a “strong-buy” rating in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $31.00.

Insider Activity

In other news, EVP Christopher J. Progler sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $21.93, for a total value of $219,300.00. Following the completion of the sale, the executive vice president owned 200,591 shares in the company, valued at approximately $4,398,960.63. This trade represents a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mitchell G. Tyson sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $19.97, for a total transaction of $299,550.00. Following the completion of the transaction, the director directly owned 56,927 shares in the company, valued at $1,136,832.19. This represents a 20.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,500 shares of company stock worth $1,444,750 over the last 90 days. Insiders own 3.20% of the company’s stock.

Photronics Stock Performance

PLAB opened at $23.22 on Friday. Photronics, Inc. has a fifty-two week low of $16.46 and a fifty-two week high of $31.60. The company has a fifty day moving average of $21.80 and a 200 day moving average of $20.10. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 13.19 and a beta of 1.53.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Wednesday, August 27th. The semiconductor company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.39 by $0.12. The business had revenue of $210.39 million during the quarter, compared to analyst estimates of $204.30 million. Photronics had a net margin of 12.67% and a return on equity of 8.19%. Photronics’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 earnings per share. Photronics has set its Q4 2025 guidance at 0.420-0.480 EPS. On average, equities research analysts forecast that Photronics, Inc. will post 2.3 earnings per share for the current year.

About Photronics

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.