Allspring Global Investments Holdings LLC Has $3.43 Million Stock Position in Photronics, Inc. (NASDAQ:PLAB)

Allspring Global Investments Holdings LLC cut its holdings in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 13.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 142,658 shares of the semiconductor company's stock after selling 22,683 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.23% of Photronics worth $3,425,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PLAB. Four Tree Island Advisory LLC bought a new position in shares of Photronics during the 4th quarter valued at $3,472,000. Barclays PLC raised its holdings in Photronics by 297.2% during the third quarter. Barclays PLC now owns 114,133 shares of the semiconductor company's stock valued at $2,826,000 after buying an additional 85,397 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Photronics by 5.1% in the third quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company's stock worth $43,217,000 after buying an additional 85,160 shares during the last quarter. Easterly Investment Partners LLC lifted its position in shares of Photronics by 17.8% in the third quarter. Easterly Investment Partners LLC now owns 411,188 shares of the semiconductor company's stock worth $10,181,000 after buying an additional 62,201 shares during the last quarter. Finally, Hodges Capital Management Inc. boosted its stake in shares of Photronics by 38.4% during the 4th quarter. Hodges Capital Management Inc. now owns 210,975 shares of the semiconductor company's stock worth $4,970,000 after acquiring an additional 58,590 shares in the last quarter. 88.38% of the stock is owned by institutional investors.

Insider Buying and Selling at Photronics

In other Photronics news, CEO Kang Jyh Lee sold 8,750 shares of the firm's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $24.40, for a total value of $213,500.00. Following the sale, the chief executive officer now directly owns 572,100 shares in the company, valued at $13,959,240. This trade represents a 1.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Han Kyung Park sold 11,250 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $24.63, for a total transaction of $277,087.50. Following the transaction, the senior vice president now directly owns 118,000 shares of the company's stock, valued at $2,906,340. This represents a 8.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 199,000 shares of company stock valued at $4,878,810 in the last 90 days. 3.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, DA Davidson boosted their target price on Photronics from $32.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, December 12th.

Photronics Price Performance

Shares of NASDAQ PLAB traded down $0.77 during trading hours on Friday, hitting $21.76. 441,407 shares of the stock were exchanged, compared to its average volume of 450,352. Photronics, Inc. has a one year low of $20.25 and a one year high of $31.60. The company's 50 day moving average is $23.63 and its 200 day moving average is $23.85. The firm has a market capitalization of $1.38 billion, a P/E ratio of 10.41 and a beta of 1.37.

Photronics (NASDAQ:PLAB - Get Free Report) last released its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.07. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The company had revenue of $222.60 million during the quarter, compared to analysts' expectations of $218.00 million. During the same period in the prior year, the company earned $0.60 earnings per share. The business's quarterly revenue was down 2.2% compared to the same quarter last year. Research analysts anticipate that Photronics, Inc. will post 2.3 earnings per share 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.