Today, Heartland Advisors Inc. decides to keep it stake in Photronics, Inc. (PLAB) to the level of $7,443,000

Today, Heartland Advisors Inc. decides to keep it stake in Photronics, Inc. (PLAB) to the level of $7,443,000
Heartland Advisors Inc. cut its stake in Photronics, Inc. (NASDAQ:PLAB) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 721,937 shares of the company’s stock after selling 8,358 shares during the period. Heartland Advisors Inc. owned about 1.06% of Photronics worth $7,443,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. raised its stake in Photronics by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,697,653 shares of the company’s stock valued at $17,673,000 after buying an additional 6,230 shares during the period. LSV Asset Management raised its stake in Photronics by 22.6% in the second quarter. LSV Asset Management now owns 1,197,171 shares of the company’s stock valued at $10,666,000 after buying an additional 220,713 shares during the period. Lombardia Capital Partners LLC raised its stake in Photronics by 413.4% in the second quarter. Lombardia Capital Partners LLC now owns 1,107,238 shares of the company’s stock valued at $9,865,000 after buying an additional 891,580 shares during the period. Bank of New York Mellon Corp raised its stake in Photronics by 1.4% in the third quarter. Bank of New York Mellon Corp now owns 755,916 shares of the company’s stock valued at $7,793,000 after buying an additional 10,728 shares during the period. Finally, Mackenzie Financial Corp raised its stake in Photronics by 17.4% in the second quarter. Mackenzie Financial Corp now owns 676,300 shares of the company’s stock valued at $6,026,000 after buying an additional 100,000 shares during the period. Hedge funds and other institutional investors own 97.69% of the company’s stock.

Photronics, Inc. (NASDAQ:PLAB) traded down 2.35% during mid-day trading on Friday, hitting $10.40. The stock had a trading volume of 40,821 shares. The firm has a market capitalization of $709.13 million, a price-to-earnings ratio of 12.76 and a beta of 0.58. Photronics, Inc. has a one year low of $8.20 and a one year high of $13.05. The stock’s 50 day moving average price is $10.15 and its 200 day moving average price is $9.73.

PLAB has been the subject of several analyst reports. Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a report on Thursday, September 1st. SunTrust Banks Inc. set a $12.00 price target on Photronics and gave the stock a “buy” rating in a research report on Tuesday, October 4th. DA Davidson reaffirmed a “buy” rating and issued a $15.00 price target on shares of Photronics in a research report on Monday, August 22nd. Needham & Company LLC downgraded Photronics from a “buy” rating to a “hold” rating in a research report on Friday, November 11th. Finally, Stifel Nicolaus downgraded Photronics from a “buy” rating to a “hold” rating in a research report on Friday, November 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $13.00.

In related news, Director Joseph A. Fiorita, Jr. sold 12,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $10.00, for a total transaction of $120,000.00. Following the completion of the transaction, the director now directly owns 161,100 shares of the company’s stock, valued at $1,611,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter M. Fiederowicz sold 21,250 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $9.95, for a total value of $211,437.50. Following the transaction, the director now directly owns 42,250 shares of the company’s stock, valued at $420,387.50. The disclosure for this sale can be found here. Corporate insiders own 4.12% of the company’s stock.

Photronics Company Profile

Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. The Company supports customers across the full spectrum of integrated circuit (IC) production and flat panel display (FPD) technologies by manufacturing photomasks using electron beam or optical (laser-based) systems.

Receive News & Ratings for Photronics Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Photronics Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Related posts

Leave a Comment