Segall Bryant & Hamill LLC Boosts Position in Photronics, Inc. (NASDAQ:PLAB)

Segall Bryant & Hamill LLC lifted its holdings in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) by 83.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 212,783 shares of the semiconductor company's stock after acquiring an additional 96,769 shares during the period. Segall Bryant & Hamill LLC owned 0.34% of Photronics worth $5,013,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Photronics by 0.5% during the 4th 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. State Street Corp grew its holdings in shares of Photronics by 0.4% during the third quarter. State Street Corp now owns 2,368,450 shares of the semiconductor company's stock worth $58,643,000 after buying an additional 10,590 shares during the last quarter. American Century Companies Inc. increased its position in Photronics by 8.6% in the 4th quarter. American Century Companies Inc. now owns 2,018,887 shares of the semiconductor company's stock valued at $47,565,000 after acquiring an additional 159,245 shares during the period. Geode Capital Management LLC raised its stake in Photronics by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company's stock valued at $43,217,000 after acquiring an additional 85,160 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Photronics by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,007,582 shares of the semiconductor company's stock worth $23,739,000 after acquiring an additional 40,579 shares during the period. 88.38% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Photronics

In related news, CEO Kang Jyh Lee sold 17,500 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total value of $421,750.00. Following the completion of the sale, the chief executive officer now owns 510,850 shares in the company, valued at $12,311,485. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Walter M. Fiederowicz sold 10,000 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $24.13, for a total transaction of $241,300.00. Following the sale, the director now directly owns 32,000 shares in the company, valued at approximately $772,160. This represents a 23.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,500 shares of company stock worth $1,829,138 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Photronics Price Performance

Shares of PLAB stock traded down $0.38 during mid-day trading on Tuesday, hitting $20.38. The stock had a trading volume of 525,680 shares, compared to its average volume of 483,087. The firm has a market cap of $1.30 billion, a PE ratio of 9.75 and a beta of 1.43. The company's 50-day simple moving average is $21.79 and its 200-day simple moving average is $23.44. Photronics, Inc. has a fifty-two week low of $19.61 and a fifty-two week high of $31.60.

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

Analyst Upgrades and Downgrades

Separately, DA Davidson boosted their target price on Photronics from $32.00 to $35.00 and gave the company a "buy" rating in a 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.