Photronics, Inc. (NASDAQ:PLAB) Shares Sold by Koss Olinger Consulting LLC

Koss Olinger Consulting LLC lowered its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,664 shares of the semiconductor company’s stock after selling 1,050 shares during the period. Koss Olinger Consulting LLC’s holdings in Photronics were worth $416,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. State Street Corp raised its position in shares of Photronics by 0.4% in the third quarter. State Street Corp now owns 2,368,450 shares of the semiconductor company’s stock valued at $58,643,000 after buying an additional 10,590 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Photronics by 5.1% in the third quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock valued at $43,217,000 after buying an additional 85,160 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Photronics by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,007,582 shares of the semiconductor company’s stock valued at $23,739,000 after buying an additional 40,579 shares during the last quarter. Boston Partners raised its position in shares of Photronics by 45.3% in the fourth quarter. Boston Partners now owns 799,439 shares of the semiconductor company’s stock valued at $18,893,000 after buying an additional 249,222 shares during the last quarter. Finally, Needham Investment Management LLC raised its position in shares of Photronics by 6.7% in the third quarter. Needham Investment Management LLC now owns 762,500 shares of the semiconductor company’s stock valued at $18,880,000 after buying an additional 48,200 shares during the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.

Photronics Stock Performance

Photronics stock opened at $21.43 on Thursday. Photronics, Inc. has a 1 year low of $19.61 and a 1 year high of $31.60. The firm has a 50 day moving average price of $22.31 and a 200 day moving average price of $23.57. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 10.25 and a beta of 1.43.

Photronics (NASDAQ:PLAB) last released its earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The firm had revenue of $212.14 million during the quarter, compared to the consensus estimate of $210.00 million. During the same period in the previous year, the firm earned $0.48 earnings per share. Sell-side analysts predict that Photronics, Inc. will post 2.3 EPS for the current year.

Insider Activity at Photronics

In other Photronics news, SVP Han Kyung Park sold 11,250 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $24.63, for a total transaction of $277,087.50. Following the completion of the sale, the senior vice president now directly owns 118,000 shares in the company, valued at $2,906,340. The trade was a 8.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kang Jyh Lee sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $20.90, for a total transaction of $209,000.00. Following the sale, the chief executive officer now owns 552,100 shares of the company’s stock, valued at approximately $11,538,890. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 126,000 shares of company stock worth $3,016,860. 3.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, DA Davidson boosted their price objective on shares of Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, December 12th.

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.