Hodges Capital Management Inc. Has $4.97 Million Stock Position in Photronics, Inc. (NASDAQ:PLAB)

Hodges Capital Management Inc. raised its position in Photronics, Inc. (NASDAQ:PLAB) by 38.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 210,975 shares of the semiconductor company’s stock after buying an additional 58,590 shares during the period. Hodges Capital Management Inc. owned 0.33% of Photronics worth $4,970,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Photronics by 0.4% during the third quarter. State Street Corp now owns 2,368,450 shares of the semiconductor company’s stock worth $58,643,000 after purchasing an additional 10,590 shares during the last quarter. Geode Capital Management LLC lifted its position 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 worth $43,217,000 after buying an additional 85,160 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Photronics by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 967,003 shares of the semiconductor company’s stock worth $23,943,000 after acquiring an additional 32,977 shares during the last quarter. Needham Investment Management LLC grew its holdings in Photronics by 6.7% during the 3rd quarter. Needham Investment Management LLC now owns 762,500 shares of the semiconductor company’s stock worth $18,880,000 after acquiring an additional 48,200 shares during the last quarter. Finally, Royce & Associates LP increased its position in Photronics by 1.7% in the 3rd quarter. Royce & Associates LP now owns 746,606 shares of the semiconductor company’s stock valued at $18,486,000 after acquiring an additional 12,603 shares in the last quarter. 88.38% of the stock is owned by institutional investors.

Photronics Stock Down 0.3 %

PLAB stock opened at $22.99 on Monday. Photronics, Inc. has a twelve month low of $20.25 and a twelve month high of $34.16. The company has a market cap of $1.46 billion, a P/E ratio of 11.00 and a beta of 1.37. The business has a fifty day moving average of $24.41 and a 200-day moving average of $24.11.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. The firm had revenue of $222.60 million during the quarter, compared to analysts’ expectations of $218.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. As a group, equities research analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Walter M. Fiederowicz sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $24.01, for a total value of $240,100.00. Following the completion of the sale, the director now owns 50,000 shares in the company, valued at approximately $1,200,500. This represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Christopher J. Progler sold 63,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $24.85, for a total value of $1,565,550.00. Following the transaction, the executive vice president now owns 219,166 shares in the company, valued at approximately $5,446,275.10. This trade represents a 22.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 199,000 shares of company stock valued at $4,878,810 over the last ninety days. Insiders own 3.88% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DA Davidson upped their target price on shares of Photronics from $32.00 to $35.00 and gave the stock 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.