Koss Olinger Consulting LLC Lowers Stake in Photronics, Inc. (NASDAQ:PLAB)

Koss Olinger Consulting LLC reduced its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 5.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 17,664 shares of the semiconductor company’s stock after selling 1,050 shares during the period. Koss Olinger Consulting LLC’s holdings in Photronics were worth $416,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp grew its position in Photronics by 0.4% during the 3rd 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 grew 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 purchasing an additional 85,160 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Photronics by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,007,582 shares of the semiconductor company’s stock valued at $23,739,000 after acquiring an additional 40,579 shares in the last quarter. Boston Partners boosted its holdings in shares of Photronics by 45.3% in the fourth quarter. Boston Partners now owns 799,439 shares of the semiconductor company’s stock valued at $18,893,000 after acquiring an additional 249,222 shares in the last quarter. Finally, Needham Investment Management LLC boosted its holdings in shares of Photronics by 6.7% in the third quarter. Needham Investment Management LLC now owns 762,500 shares of the semiconductor company’s stock valued at $18,880,000 after acquiring an additional 48,200 shares in the last quarter. 88.38% of the stock is owned by hedge funds and other institutional investors.

Photronics Stock Down 0.2 %

Shares of NASDAQ:PLAB opened at $21.43 on Thursday. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 10.25 and a beta of 1.43. The firm’s 50-day simple moving average is $22.31 and its 200-day simple moving average is $23.57. Photronics, Inc. has a fifty-two week low of $19.61 and a fifty-two week high of $31.60.

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. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The firm had revenue of $212.14 million during the quarter, compared to analysts’ expectations of $210.00 million. During the same quarter last year, the business earned $0.48 earnings per share. On average, research analysts forecast that Photronics, Inc. will post 2.3 EPS for the current year.

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.

Insider Activity at Photronics

In related news, CEO Kang Jyh Lee sold 8,750 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $24.40, for a total value of $213,500.00. Following the completion of the sale, the chief executive officer now owns 572,100 shares in the company, valued at $13,959,240. This trade represents a 1.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Adam M. Lewis sold 19,750 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were 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 position. The disclosure for this sale can be found here. Insiders sold 126,000 shares of company stock worth $3,016,860 over the last 90 days. Company 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.