Photronics (PLAB) Shares Up 5.3%
Photronics, Inc. (NASDAQ:PLAB)’s share price shot up 5.3% during trading on Monday . The company traded as high as $7.90 and last traded at $7.90. 964,234 shares were traded during mid-day trading, an increase of 70% from the average session volume of 566,443 shares. The stock had previously closed at $7.50.
A number of research firms have commented on PLAB. ValuEngine downgraded shares of Photronics from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. DA Davidson reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Photronics in a report on Monday, November 27th. BidaskClub downgraded shares of Photronics from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 30th. Finally, Zacks Investment Research downgraded shares of Photronics from a “hold” rating to a “strong sell” rating in a report on Saturday, December 2nd.
The company has a current ratio of 5.49, a quick ratio of 5.20 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $517.89, a P/E ratio of 37.50, a PEG ratio of 1.88 and a beta of 0.52.
In other Photronics news, VP Richelle E. Burr sold 4,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $9.00, for a total value of $36,000.00. Following the sale, the vice president now directly owns 41,109 shares in the company, valued at $369,981. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Sean T. Smith sold 12,500 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $9.43, for a total value of $117,875.00. Following the completion of the sale, the senior vice president now owns 152,858 shares in the company, valued at $1,441,450.94. The disclosure for this sale can be found here. Insiders sold 49,040 shares of company stock worth $452,165 over the last quarter. 3.71% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of PLAB. BlackRock Inc. lifted its stake in Photronics by 99.7% in the fourth quarter. BlackRock Inc. now owns 8,932,962 shares of the semiconductor company’s stock valued at $76,153,000 after buying an additional 4,458,990 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Photronics by 4,703.6% during the third quarter. Wedge Capital Management L L P NC now owns 1,444,626 shares of the semiconductor company’s stock valued at $12,785,000 after purchasing an additional 1,414,552 shares in the last quarter. Cortina Asset Management LLC bought a new stake in shares of Photronics during the fourth quarter valued at about $3,964,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Photronics by 106.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 842,037 shares of the semiconductor company’s stock valued at $7,178,000 after purchasing an additional 434,174 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Photronics by 30.9% during the second quarter. Northern Trust Corp now owns 1,645,280 shares of the semiconductor company’s stock valued at $15,466,000 after purchasing an additional 388,133 shares in the last quarter. Institutional investors own 94.39% of the company’s stock.
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Photronics Company Profile
Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. As of October 30, 2016, the Company operated principally from nine manufacturing facilities: two located in Europe, three in Taiwan, one in Korea and three in the United States.
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