Kestrel Investment Management Corp Invests $5.16 Million in Photronics, Inc. (NASDAQ:PLAB)

Kestrel Investment Management Corp bought a new stake in shares of Photronics, Inc. (NASDAQ:PLAB) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 219,150 shares of the semiconductor company’s stock, valued at approximately $5,163,000. Photronics makes up 2.8% of Kestrel Investment Management Corp’s portfolio, making the stock its 15th largest position. Kestrel Investment Management Corp owned approximately 0.35% of Photronics as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its position in shares of Photronics by 216.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company’s stock worth $26,000 after buying an additional 762 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Photronics by 65.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company’s stock worth $54,000 after buying an additional 904 shares in the last quarter. GAMMA Investing LLC boosted its stake in Photronics by 17.6% during the fourth quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company’s stock valued at $81,000 after buying an additional 516 shares in the last quarter. KBC Group NV raised its holdings in shares of Photronics by 76.8% in the 4th quarter. KBC Group NV now owns 3,467 shares of the semiconductor company’s stock worth $82,000 after purchasing an additional 1,506 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in Photronics during the fourth quarter valued at approximately $110,000. Institutional investors and hedge funds own 88.38% of the company’s stock.

Photronics Trading Down 3.2 %

Shares of NASDAQ PLAB opened at $20.60 on Monday. The firm has a market capitalization of $1.31 billion, a PE ratio of 9.86 and a beta of 1.43. Photronics, Inc. has a one year low of $19.61 and a one year high of $31.60. The business has a 50-day moving average price of $21.94 and a two-hundred day moving average price of $23.48.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $210.00 million. During the same quarter in the prior year, the business earned $0.48 EPS. Research analysts anticipate that Photronics, Inc. will post 2.3 EPS for the current year.

Analyst Ratings Changes

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 report on Thursday, December 12th.

Insiders Place Their Bets

In other news, SVP Han Kyung Park sold 11,250 shares of the stock in a transaction 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 transaction, the senior vice president now owns 118,000 shares in the company, valued at $2,906,340. This represents a 8.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kang Jyh Lee sold 10,000 shares of Photronics stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $20.90, for a total transaction of $209,000.00. Following the completion of the sale, the chief executive officer now directly owns 552,100 shares of the company’s stock, valued at approximately $11,538,890. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,500 shares of company stock valued at $1,829,138 in the last three months. Insiders own 3.20% of the company’s stock.

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.