Four Tree Island Advisory LLC Invests $3.47 Million in Photronics, Inc. (NASDAQ:PLAB)

Four Tree Island Advisory LLC bought a new position in shares of Photronics, Inc. (NASDAQ:PLAB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 147,351 shares of the semiconductor company’s stock, valued at approximately $3,472,000. Photronics comprises approximately 2.4% of Four Tree Island Advisory LLC’s investment portfolio, making the stock its 11th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. M&T Bank Corp purchased a new position in shares of Photronics during the 3rd quarter valued at about $252,000. Geode Capital Management LLC grew its holdings in Photronics by 5.1% during the third quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock worth $43,217,000 after acquiring an additional 85,160 shares during the period. 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 acquiring an additional 24,834 shares in the last quarter. FMR LLC lifted its holdings in Photronics by 36.0% in the third quarter. FMR LLC now owns 135,208 shares of the semiconductor company’s stock valued at $3,348,000 after acquiring an additional 35,825 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Photronics in the 4th quarter worth approximately $298,000. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Photronics Stock Down 1.6 %

PLAB stock opened at $22.52 on Monday. Photronics, Inc. has a 52-week low of $20.25 and a 52-week high of $34.16. The firm has a market cap of $1.43 billion, a P/E ratio of 10.78 and a beta of 1.37. The company’s 50-day simple moving average is $24.19 and its 200-day simple moving average is $23.98.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The company had revenue of $222.60 million for the quarter, compared to the consensus estimate of $218.00 million. During the same quarter in the prior year, the business posted $0.60 earnings per share. Photronics’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Photronics news, CEO Kang Jyh Lee sold 8,750 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $24.40, for a total value of $213,500.00. Following the transaction, the chief executive officer now owns 572,100 shares in the company, valued at approximately $13,959,240. This trade represents a 1.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Walter M. Fiederowicz sold 10,000 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $24.01, for a total transaction of $240,100.00. Following the sale, the director now directly owns 50,000 shares of the company’s stock, valued at $1,200,500. The trade was a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 199,000 shares of company stock worth $4,878,810 in the last 90 days. Insiders own 3.88% of the company’s stock.

Analyst Ratings Changes

Separately, DA Davidson lifted 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.

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.