Balyasny Asset Management L.P. Acquires 21,328 Shares of Photronics, Inc. (NASDAQ:PLAB)

Balyasny Asset Management L.P. lifted its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 54.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,243 shares of the semiconductor company’s stock after acquiring an additional 21,328 shares during the period. Balyasny Asset Management L.P. owned approximately 0.10% of Photronics worth $1,419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PLAB. Charles Schwab Investment Management Inc. boosted its holdings in Photronics by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,007,582 shares of the semiconductor company’s stock worth $23,739,000 after purchasing an additional 40,579 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Photronics during the fourth quarter worth about $298,000. Empowered Funds LLC boosted its holdings in Photronics by 13.4% during the fourth quarter. Empowered Funds LLC now owns 376,726 shares of the semiconductor company’s stock worth $8,876,000 after purchasing an additional 44,602 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Photronics by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 5,868,889 shares of the semiconductor company’s stock worth $138,271,000 after purchasing an additional 29,681 shares during the last quarter. Finally, Four Tree Island Advisory LLC purchased a new position in Photronics during the fourth quarter worth about $3,472,000. 88.38% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Walter M. Fiederowicz sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 29,548 shares of the company’s stock, valued at approximately $639,123.24. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 54,548 shares of company stock valued at $1,093,093. Company insiders own 3.20% of the company’s stock.

Photronics Stock Performance

Photronics stock opened at $20.93 on Wednesday. The stock has a market cap of $1.33 billion, a PE ratio of 10.01 and a beta of 1.43. Photronics, Inc. has a fifty-two week low of $16.46 and a fifty-two week high of $31.60. The firm’s 50-day simple moving average is $19.46 and its 200 day simple moving average is $22.25.

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