Martingale Asset Management L P Grows Stock Position in Photronics, Inc. $PLAB

Martingale Asset Management L P lifted its stake in Photronics, Inc. (NASDAQ:PLAB) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,138 shares of the semiconductor company’s stock after buying an additional 1,483 shares during the period. Martingale Asset Management L P’s holdings in Photronics were worth $2,017,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PLAB. Wells Fargo & Company MN increased its holdings in shares of Photronics by 20.7% in the fourth quarter. Wells Fargo & Company MN now owns 57,479 shares of the semiconductor company’s stock worth $1,354,000 after buying an additional 9,840 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Photronics by 1.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 38,042 shares of the semiconductor company’s stock worth $896,000 after buying an additional 690 shares during the period. Cerity Partners LLC increased its holdings in shares of Photronics by 9.2% in the fourth quarter. Cerity Partners LLC now owns 9,314 shares of the semiconductor company’s stock worth $227,000 after buying an additional 785 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Photronics in the fourth quarter worth about $1,206,000. Finally, Barclays PLC increased its holdings in shares of Photronics by 1.4% in the fourth quarter. Barclays PLC now owns 115,701 shares of the semiconductor company’s stock worth $2,725,000 after buying an additional 1,568 shares during the period. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Photronics Price Performance

Shares of NASDAQ:PLAB opened at $22.08 on Friday. Photronics, Inc. has a 1 year low of $16.46 and a 1 year high of $31.60. The company has a market cap of $1.33 billion, a PE ratio of 11.50 and a beta of 1.40. The stock’s 50-day moving average is $19.81 and its 200 day moving average is $19.85.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.08). Photronics had a net margin of 14.00% and a return on equity of 8.54%. The business had revenue of $210.99 million for the quarter, compared to analysts’ expectations of $212.00 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Photronics has set its Q3 2025 guidance at 0.350-0.410 EPS. Analysts expect that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen downgraded Photronics from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Craig Hallum began coverage on Photronics in a report on Wednesday, June 11th. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, DA Davidson reduced their price target on Photronics from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $31.00.

Insider Transactions at Photronics

In other news, Director David A. Garcia acquired 2,650 shares of the business’s stock in a transaction on Friday, June 27th. The shares were acquired at an average cost of $19.00 per share, with a total value of $50,350.00. Following the transaction, the director owned 10,198 shares in the company, valued at $193,762. The trade was a 35.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Constantine S. Macricostas sold 29,500 shares of Photronics stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $20.20, for a total value of $595,900.00. Following the sale, the director directly owned 459,623 shares in the company, valued at approximately $9,284,384.60. The trade was a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,382 shares of company stock valued at $985,035. 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.