TD Asset Management Inc. Acquires Shares of 142,600 Photronics, Inc. (NASDAQ:PLAB)

TD Asset Management Inc. purchased a new position in shares of Photronics, Inc. (NASDAQ:PLAB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 142,600 shares of the semiconductor company’s stock, valued at approximately $1,348,000. TD Asset Management Inc. owned approximately 0.21% of Photronics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLAB. Malaga Cove Capital LLC raised its stake in Photronics by 1.7% in the fourth quarter. Malaga Cove Capital LLC now owns 54,970 shares of the semiconductor company’s stock valued at $524,000 after buying an additional 936 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Photronics by 0.9% in the fourth quarter. Victory Capital Management Inc. now owns 136,128 shares of the semiconductor company’s stock worth $1,318,000 after purchasing an additional 1,267 shares during the last quarter. Palouse Capital Management Inc. raised its stake in shares of Photronics by 5.7% in the fourth quarter. Palouse Capital Management Inc. now owns 27,591 shares of the semiconductor company’s stock worth $267,000 after purchasing an additional 1,484 shares during the last quarter. Texas Permanent School Fund raised its stake in shares of Photronics by 4.0% in the fourth quarter. Texas Permanent School Fund now owns 44,752 shares of the semiconductor company’s stock worth $433,000 after purchasing an additional 1,722 shares during the last quarter. Finally, Brandywine Global Investment Management LLC raised its stake in shares of Photronics by 6.3% in the fourth quarter. Brandywine Global Investment Management LLC now owns 36,670 shares of the semiconductor company’s stock worth $355,000 after purchasing an additional 2,170 shares during the last quarter. 95.80% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Christopher J. Progler sold 5,600 shares of Photronics stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $9.48, for a total value of $53,088.00. Following the sale, the vice president now directly owns 118,025 shares of the company’s stock, valued at $1,118,877. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 10,150 shares of company stock worth $94,831 over the last ninety days. Corporate insiders own 3.58% of the company’s stock.

Several research analysts recently weighed in on the company. BidaskClub upgraded Photronics from a “strong sell” rating to a “sell” rating in a research report on Friday. TheStreet cut Photronics from a “b-” rating to a “c” rating in a research report on Friday, June 7th. Zacks Investment Research cut Photronics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. Finally, ValuEngine lowered Photronics from a “buy” rating to a “hold” rating in a report on Thursday, March 7th.

PLAB traded down $0.24 during trading on Friday, hitting $8.20. The company’s stock had a trading volume of 464,556 shares, compared to its average volume of 569,226. The company has a quick ratio of 2.42, a current ratio of 2.67 and a debt-to-equity ratio of 0.04. Photronics, Inc. has a twelve month low of $7.80 and a twelve month high of $11.58. The business’s fifty day moving average price is $8.46. The company has a market cap of $549.94 million, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.96 and a beta of 0.62.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.06. The firm had revenue of $131.60 million for the quarter, compared to analyst estimates of $130.05 million. Photronics had a return on equity of 4.10% and a net margin of 7.30%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. Equities research analysts forecast that Photronics, Inc. will post 0.42 earnings per share for the current year.

Photronics Profile

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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