D.A. Davidson & CO. Sells 45,050 Shares of Photronics, Inc. (NASDAQ:PLAB)

D.A. Davidson & CO. reduced its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 57.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,800 shares of the semiconductor company’s stock after selling 45,050 shares during the quarter. D.A. Davidson & CO. owned approximately 0.05% of Photronics worth $368,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Laurion Capital Management LP bought a new position in shares of Photronics during the 2nd quarter worth approximately $310,000. DekaBank Deutsche Girozentrale bought a new position in shares of Photronics in the second quarter valued at $66,000. BBVA USA Bancshares Inc. bought a new position in shares of Photronics in the third quarter valued at $499,000. Janney Montgomery Scott LLC bought a new position in shares of Photronics in the second quarter valued at $391,000. Finally, KAMES CAPITAL plc grew its stake in shares of Photronics by 6.9% in the second quarter. KAMES CAPITAL plc now owns 1,245,302 shares of the semiconductor company’s stock valued at $10,199,000 after buying an additional 79,927 shares in the last quarter. 94.50% of the stock is owned by institutional investors.

In other Photronics news, Director Joseph A. Fiorita, Jr. sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $10.93, for a total transaction of $27,325.00. Following the completion of the sale, the director now owns 202,600 shares of the company’s stock, valued at approximately $2,214,418. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter M. Fiederowicz sold 15,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $11.91, for a total value of $178,650.00. Following the sale, the director now directly owns 21,000 shares of the company’s stock, valued at approximately $250,110. The disclosure for this sale can be found here. Insiders sold 87,553 shares of company stock valued at $974,466 over the last three months. 3.58% of the stock is owned by company insiders.

Several research firms recently weighed in on PLAB. Northland Securities set a $15.00 target price on shares of Photronics and gave the company a “buy” rating in a research note on Monday, October 21st. BidaskClub raised shares of Photronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 19th. Finally, Zacks Investment Research cut shares of Photronics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Photronics has an average rating of “Buy” and an average price target of $13.00.

NASDAQ:PLAB opened at $12.27 on Tuesday. Photronics, Inc. has a 1-year low of $7.95 and a 1-year high of $12.63. The company has a current ratio of 2.64, a quick ratio of 2.39 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $11.56 and a 200 day simple moving average of $9.80. The stock has a market capitalization of $815.10 million, a PE ratio of 21.16 and a beta of 0.47.

Photronics (NASDAQ:PLAB) last released its earnings results on Tuesday, August 20th. The semiconductor company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Photronics had a net margin of 6.04% and a return on equity of 3.60%. The business had revenue of $138.11 million during the quarter, compared to analysts’ expectations of $137.13 million. During the same period last year, the business earned $0.18 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts predict that Photronics, Inc. will post 0.45 earnings per share for the current fiscal year.

Photronics Profile

Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz or glass plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.

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Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

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