Photronics, Inc. (NASDAQ:PLAB) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its position in Photronics, Inc. (NASDAQ:PLAB) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,358 shares of the semiconductor company’s stock after selling 800 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of Photronics worth $4,249,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. US Bancorp DE increased its position in Photronics by 137.2% in the 3rd quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 701 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Photronics by 65.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 567 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Photronics by 17.6% in the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 516 shares during the period. KBC Group NV increased its holdings in Photronics by 76.8% in the 4th quarter. KBC Group NV now owns 3,467 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 1,506 shares during the period. Finally, Heck Capital Advisors LLC acquired a new position in Photronics in the fourth quarter worth about $110,000. 88.38% of the stock is owned by institutional investors and hedge funds.

Photronics Stock Up 1.2 %

NASDAQ PLAB opened at $20.84 on Friday. The firm’s 50 day moving average is $23.11 and its 200-day moving average is $23.84. The company has a market capitalization of $1.32 billion, a PE ratio of 9.97 and a beta of 1.37. Photronics, Inc. has a 12-month low of $20.25 and a 12-month high of $31.60.

Photronics (NASDAQ:PLAB) last issued its earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. The business had revenue of $212.14 million for the quarter, compared to the consensus estimate 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, sell-side analysts expect that Photronics, Inc. will post 2.3 EPS for the current year.

Insider Activity at Photronics

In related news, EVP Christopher J. Progler sold 63,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $24.85, for a total transaction of $1,565,550.00. Following the completion of the sale, the executive vice president now owns 219,166 shares of the company’s stock, valued at $5,446,275.10. This trade represents a 22.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Adam M. Lewis sold 19,750 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $24.11, for a total value of $476,172.50. Following the completion of the transaction, the director now owns 22,250 shares in the company, valued at approximately $536,447.50. This represents a 47.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 199,000 shares of company stock worth $4,878,810. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson upped their price target 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 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.