Sterling Capital Management LLC Raises Stock Holdings in Photronics, Inc. (NASDAQ:PLAB)

Sterling Capital Management LLC raised its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,243 shares of the semiconductor company’s stock after buying an additional 1,159 shares during the quarter. Sterling Capital Management LLC’s holdings in Photronics were worth $548,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. LSV Asset Management lifted its position in Photronics by 13.8% during the 4th quarter. LSV Asset Management now owns 2,120,319 shares of the semiconductor company’s stock valued at $49,955,000 after acquiring an additional 257,373 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Photronics during the fourth quarter valued at approximately $1,206,000. Renaissance Technologies LLC lifted its holdings in shares of Photronics by 15.0% during the fourth quarter. Renaissance Technologies LLC now owns 223,788 shares of the semiconductor company’s stock valued at $5,272,000 after purchasing an additional 29,193 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Photronics by 9.2% in the 4th quarter. Cerity Partners LLC now owns 9,314 shares of the semiconductor company’s stock worth $227,000 after purchasing an additional 785 shares in the last quarter. Finally, Federated Hermes Inc. bought a new position in Photronics during the 4th quarter valued at approximately $47,000. Institutional investors own 88.38% of the company’s stock.

Photronics Trading Down 0.6 %

Photronics stock opened at $17.67 on Friday. Photronics, Inc. has a 12 month low of $16.46 and a 12 month high of $31.60. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 8.45 and a beta of 1.40. The business’s fifty day simple moving average is $20.45 and its two-hundred day simple moving average is $22.89.

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

Insider Activity at Photronics

In related news, Director Walter M. Fiederowicz sold 5,000 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $19.16, for a total transaction of $95,800.00. Following the sale, the director now directly owns 24,548 shares of the company’s stock, valued at $470,339.68. This trade represents a 16.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kang Jyh Lee sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $20.90, for a total value of $209,000.00. Following the completion of the transaction, the chief executive officer now directly owns 552,100 shares of the company’s stock, valued at approximately $11,538,890. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,548 shares of company stock valued at $877,093 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

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.