Photronics, Inc. (NASDAQ:PLAB) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its position in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 77.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,358 shares of the semiconductor company's stock after selling 39,098 shares during the quarter. Los Angeles Capital Management LLC's holdings in Photronics were worth $268,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PLAB. US Bancorp DE boosted its holdings in Photronics by 137.2% in the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 701 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Photronics by 65.4% in 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. GAMMA Investing LLC increased its position in Photronics by 17.6% in the fourth quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company's stock worth $81,000 after buying an additional 516 shares in the last quarter. KBC Group NV increased its position in Photronics by 76.8% in the fourth quarter. KBC Group NV now owns 3,467 shares of the semiconductor company's stock worth $82,000 after buying an additional 1,506 shares in the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in Photronics in the fourth quarter worth about $110,000. 88.38% of the stock is currently owned by institutional investors.

Insider Activity

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 directly owns 219,166 shares of the company's stock, valued at approximately $5,446,275.10. This trade represents a 22.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Adam M. Lewis sold 19,750 shares of the firm's 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 transaction, the director now owns 22,250 shares in the company, 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 sold 209,000 shares of company stock valued at $5,087,810 in the last ninety days. Insiders own 3.20% of the company's stock.

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Photronics Stock Up 3.2 %

Photronics stock traded up $0.68 during midday trading on Friday, reaching $21.71. 567,549 shares of the stock traded hands, compared to its average volume of 448,375. The stock's fifty day moving average is $22.77 and its 200-day moving average is $23.75. Photronics, Inc. has a 12 month low of $19.61 and a 12 month high of $31.60. The stock has a market cap of $1.38 billion, a P/E ratio of 10.39 and a beta of 1.43.

Photronics (NASDAQ:PLAB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $212.14 million during the quarter, compared to analyst estimates of $210.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. During the same period last year, the company earned $0.48 EPS. On average, equities analysts predict that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.