Balyasny Asset Management L.P. Acquires 21,328 Shares of Photronics, Inc. (NASDAQ:PLAB)

Balyasny Asset Management L.P. increased its holdings in Photronics, Inc. (NASDAQ:PLAB) by 54.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,243 shares of the semiconductor company’s stock after buying an additional 21,328 shares during the period. Balyasny Asset Management L.P.’s holdings in Photronics were worth $1,419,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Algert Global LLC boosted its holdings in Photronics by 142.1% in the 4th quarter. Algert Global LLC now owns 143,291 shares of the semiconductor company’s stock worth $3,376,000 after buying an additional 84,109 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in Photronics in the 4th quarter worth approximately $322,000. Lido Advisors LLC purchased a new stake in Photronics in the 4th quarter worth approximately $218,000. Northern Trust Corp lifted its stake in Photronics by 4.1% in the 4th quarter. Northern Trust Corp now owns 1,044,868 shares of the semiconductor company’s stock worth $24,617,000 after purchasing an additional 41,487 shares in the last quarter. Finally, Hancock Whitney Corp lifted its stake in Photronics by 52.2% in the 4th quarter. Hancock Whitney Corp now owns 19,915 shares of the semiconductor company’s stock worth $469,000 after purchasing an additional 6,833 shares in the last quarter. 88.38% of the stock is owned by institutional investors.

Photronics Price Performance

NASDAQ PLAB opened at $20.93 on Wednesday. Photronics, Inc. has a 1 year low of $16.46 and a 1 year high of $31.60. The stock has a market capitalization of $1.33 billion, a PE ratio of 10.01 and a beta of 1.43. The company’s 50 day simple moving average is $19.46 and its two-hundred day simple moving average is $22.25.

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

Insiders Place Their Bets

In other news, CEO Kang Jyh Lee sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $21.60, for a total transaction of $216,000.00. Following the sale, the chief executive officer now owns 542,100 shares in the company, valued at approximately $11,709,360. This trade represents a 1.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Walter M. Fiederowicz sold 5,000 shares of the firm’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $19.16, for a total transaction of $95,800.00. Following the sale, the director now owns 24,548 shares in the company, valued at approximately $470,339.68. This trade represents a 16.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,548 shares of company stock worth $1,093,093 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Photronics Company 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.