Meeder Asset Management Inc. Has $1.16 Million Stake in Photronics, Inc. (NASDAQ:PLAB)

Meeder Asset Management Inc. grew its position in Photronics, Inc. (NASDAQ:PLAB) by 36.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,133 shares of the semiconductor company’s stock after buying an additional 13,014 shares during the quarter. Meeder Asset Management Inc.’s holdings in Photronics were worth $1,158,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PLAB. Kestrel Investment Management Corp bought a new stake in Photronics during the fourth quarter worth $5,163,000. Heartland Advisors Inc. lifted its position in shares of Photronics by 0.6% during the 4th quarter. Heartland Advisors Inc. now owns 340,600 shares of the semiconductor company’s stock worth $8,025,000 after buying an additional 2,000 shares during the last quarter. Pictet Asset Management Holding SA acquired a new stake in Photronics in the fourth quarter valued at about $222,000. Norges Bank acquired a new position in Photronics during the fourth quarter worth about $7,787,000. Finally, Easterly Investment Partners LLC lifted its holdings in shares of Photronics by 0.7% in the fourth quarter. Easterly Investment Partners LLC now owns 414,194 shares of the semiconductor company’s stock worth $9,758,000 after acquiring an additional 3,006 shares during the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.

Insiders Place Their Bets

In related news, Director Walter M. Fiederowicz sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $21.63, for a total value of $216,300.00. Following the sale, the director now owns 29,548 shares of the company’s stock, valued at $639,123.24. The trade was a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Han Kyung Park sold 11,250 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $24.63, for a total value of $277,087.50. Following the completion of the sale, the senior vice president now owns 118,000 shares of the company’s stock, valued at $2,906,340. The trade was a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,500 shares of company stock valued at $1,829,138 in the last ninety days. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, DA Davidson upped their price objective on shares of Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th.

Photronics Stock Performance

Shares of PLAB opened at $20.60 on Monday. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 9.86 and a beta of 1.43. Photronics, Inc. has a 52 week low of $19.61 and a 52 week high of $31.60. The stock has a fifty day moving average of $21.94 and a 200-day moving average of $23.48.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The firm had revenue of $212.14 million for the quarter, compared to analyst estimates of $210.00 million. During the same period last year, the firm posted $0.48 earnings per share. As a group, equities analysts forecast that Photronics, Inc. will post 2.3 EPS for the current year.

Photronics Company Profile

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.