Principal Financial Group Inc. increased its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 0.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 555,216 shares of the semiconductor company’s stock after acquiring an additional 3,028 shares during the period. Principal Financial Group Inc.’s holdings in Photronics were worth $5,374,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in shares of Photronics by 3.1% in the third quarter. BlackRock Inc. now owns 9,955,523 shares of the semiconductor company’s stock valued at $98,062,000 after purchasing an additional 299,068 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of Photronics in the fourth quarter valued at about $26,000. Alambic Investment Management L.P. lifted its holdings in shares of Photronics by 236.9% in the fourth quarter. Alambic Investment Management L.P. now owns 192,609 shares of the semiconductor company’s stock valued at $1,864,000 after purchasing an additional 135,431 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of Photronics by 49.2% in the third quarter. TIAA CREF Investment Management LLC now owns 396,169 shares of the semiconductor company’s stock valued at $3,902,000 after purchasing an additional 130,694 shares in the last quarter. Finally, Bowling Portfolio Management LLC purchased a new stake in shares of Photronics in the fourth quarter valued at about $1,051,000. 95.38% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Christopher J. Progler sold 5,600 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $9.87, for a total value of $55,272.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kang Jyh Lee sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $10.14, for a total transaction of $50,700.00. Following the completion of the transaction, the insider now directly owns 118,175 shares of the company’s stock, valued at approximately $1,198,294.50. The disclosure for this sale can be found here. In the last three months, insiders sold 29,000 shares of company stock valued at $291,127. Company insiders own 3.58% of the company’s stock.

NASDAQ:PLAB opened at $9.21 on Monday. The company has a quick ratio of 2.19, a current ratio of 2.33 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $617.53 million, a PE ratio of 15.88, a PEG ratio of 2.33 and a beta of 0.53. Photronics, Inc. has a 1-year low of $7.60 and a 1-year high of $11.58.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings data on Thursday, February 21st. The semiconductor company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $124.71 million during the quarter, compared to analyst estimates of $125.10 million. Photronics had a net margin of 7.72% and a return on equity of 4.32%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 earnings per share. Research analysts anticipate that Photronics, Inc. will post 0.4 earnings per share for the current fiscal year.

Several brokerages have issued reports on PLAB. Zacks Investment Research raised shares of Photronics from a “sell” rating to a “hold” rating in a report on Tuesday, December 25th. BidaskClub raised shares of Photronics from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 27th. ValuEngine downgraded shares of Photronics from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Finally, TheStreet lowered shares of Photronics from a “b-” rating to a “c” rating in a research report on Friday, February 22nd. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $11.00.

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About Photronics

Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz or glass plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.

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Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

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