Delphi Management Inc. MA Has $1.34 Million Position in Photronics, Inc. (NASDAQ:PLAB)

Delphi Management Inc. MA lifted its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 19.1% during the fourth quarter, Holdings Channel reports. The fund owned 56,803 shares of the semiconductor company’s stock after buying an additional 9,115 shares during the quarter. Delphi Management Inc. MA’s holdings in Photronics were worth $1,338,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its position in shares of Photronics by 0.4% during the 3rd quarter. State Street Corp now owns 2,368,450 shares of the semiconductor company’s stock valued at $58,643,000 after acquiring an additional 10,590 shares during the period. Geode Capital Management LLC increased its stake in Photronics by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock valued at $43,217,000 after purchasing an additional 85,160 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Photronics by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,007,582 shares of the semiconductor company’s stock valued at $23,739,000 after purchasing an additional 40,579 shares in the last quarter. Needham Investment Management LLC increased its stake in Photronics by 6.7% during the 3rd quarter. Needham Investment Management LLC now owns 762,500 shares of the semiconductor company’s stock valued at $18,880,000 after purchasing an additional 48,200 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Photronics by 4.9% during the 3rd quarter. Victory Capital Management Inc. now owns 530,401 shares of the semiconductor company’s stock valued at $13,133,000 after purchasing an additional 24,834 shares in the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.

Analysts Set New Price Targets

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

Photronics Price Performance

NASDAQ PLAB opened at $21.53 on Tuesday. Photronics, Inc. has a 1 year low of $19.61 and a 1 year high of $31.60. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 10.30 and a beta of 1.43. The company has a fifty day moving average price of $22.43 and a 200-day moving average price of $23.61.

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 firm had revenue of $212.14 million during the quarter, compared to analyst estimates of $210.00 million. During the same quarter in the prior year, the business posted $0.48 EPS. On average, research analysts anticipate that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Insider Transactions at Photronics

In other news, CEO Kang Jyh Lee sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $20.90, for a total value of $209,000.00. Following the completion of the sale, the chief executive officer now owns 552,100 shares in the company, valued at $11,538,890. This represents a 1.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Adam M. Lewis sold 19,750 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $24.11, for a total transaction of $476,172.50. Following the transaction, the director now owns 22,250 shares of the company’s stock, valued at approximately $536,447.50. The trade was a 47.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,000 shares of company stock worth $5,087,810 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

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.