Truvestments Capital LLC Has $961,000 Stock Position in Photronics, Inc. (NASDAQ:PLAB)

Truvestments Capital LLC increased its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 33.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,804 shares of the semiconductor company’s stock after buying an additional 10,199 shares during the quarter. Truvestments Capital LLC’s holdings in Photronics were worth $961,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in shares of Photronics by 137.2% in the 3rd quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 701 shares in the last quarter. Victory Capital Management Inc. raised its position in Photronics by 4.9% during the third 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. Royce & Associates LP raised its position in Photronics by 1.7% during the third quarter. Royce & Associates LP now owns 746,606 shares of the semiconductor company’s stock valued at $18,486,000 after purchasing an additional 12,603 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Photronics by 3.7% during the third quarter. Empowered Funds LLC now owns 332,124 shares of the semiconductor company’s stock worth $8,223,000 after buying an additional 11,980 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its stake in shares of Photronics by 36.1% during the third quarter. Meeder Asset Management Inc. now owns 36,119 shares of the semiconductor company’s stock worth $894,000 after buying an additional 9,571 shares during the last quarter. Institutional investors own 88.38% of the company’s stock.

Photronics Stock Performance

Photronics stock opened at $20.80 on Wednesday. Photronics, Inc. has a fifty-two week low of $19.61 and a fifty-two week high of $31.60. The firm’s fifty day moving average price is $22.67 and its 200-day moving average price is $23.70. The stock has a market cap of $1.32 billion, a P/E ratio of 9.95 and a beta of 1.43.

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

Wall Street Analyst Weigh In

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

Insider Transactions at Photronics

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