MML Investors Services LLC Sells 1,457 Shares of Photronics, Inc. (NASDAQ:PLAB)

MML Investors Services LLC decreased its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 8.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,714 shares of the semiconductor company’s stock after selling 1,457 shares during the period. MML Investors Services LLC’s holdings in Photronics were worth $414,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PLAB. US Bancorp DE raised its position in shares of Photronics by 137.2% during the 3rd quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 701 shares during the period. Nisa Investment Advisors LLC raised its holdings in Photronics by 65.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 567 shares during the period. Quarry LP raised its holdings in Photronics by 223.4% during the second quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,816 shares during the period. GAMMA Investing LLC lifted its position in shares of Photronics by 65.8% in the third quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after acquiring an additional 1,164 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Photronics in the second quarter worth about $75,000. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Insider Activity at Photronics

In other Photronics news, CEO Kang Jyh Lee sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $25.27, for a total transaction of $505,400.00. Following the sale, the chief executive officer now directly owns 524,600 shares of the company’s stock, valued at $13,256,642. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Adam M. Lewis sold 19,750 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $24.11, for a total value of $476,172.50. Following the completion of the sale, the director now directly owns 22,250 shares of the company’s stock, valued at $536,447.50. The trade was a 47.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,750 shares of company stock valued at $2,547,123 over the last 90 days. 3.88% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PLAB. DA Davidson lifted their target price on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. StockNews.com upgraded shares of Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th.

Photronics Stock Down 0.8 %

Shares of Photronics stock opened at $23.85 on Tuesday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 11.41 and a beta of 1.41. Photronics, Inc. has a twelve month low of $20.25 and a twelve month high of $34.16. The business has a 50-day moving average price of $24.60 and a 200-day moving average price of $24.47.

Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The business had revenue of $222.60 million during the quarter, compared to analysts’ expectations of $218.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. On average, equities analysts expect that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

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.