Teacher Retirement System of Texas Trims Stock Holdings in Photronics, Inc. (NASDAQ:PLAB)

Teacher Retirement System of Texas cut its stake in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) by 26.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,878 shares of the semiconductor company's stock after selling 32,410 shares during the quarter. Teacher Retirement System of Texas owned about 0.14% of Photronics worth $2,118,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. State Street Corp boosted its position in Photronics by 0.4% in the third quarter. State Street Corp now owns 2,368,450 shares of the semiconductor company's stock valued at $58,643,000 after buying an additional 10,590 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Photronics by 5.1% in 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 buying an additional 85,160 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Photronics by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,007,582 shares of the semiconductor company's stock worth $23,739,000 after buying an additional 40,579 shares during the last quarter. Boston Partners boosted its stake in shares of Photronics by 45.3% in the fourth quarter. Boston Partners now owns 799,439 shares of the semiconductor company's stock worth $18,893,000 after buying an additional 249,222 shares during the last quarter. Finally, Needham Investment Management LLC grew its holdings in Photronics by 6.7% during the third quarter. Needham Investment Management LLC now owns 762,500 shares of the semiconductor company's stock worth $18,880,000 after acquiring an additional 48,200 shares during the period. 88.38% of the stock is owned by hedge funds and other institutional investors.

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Photronics Trading Down 3.2 %

Shares of Photronics stock traded down $0.68 during trading hours on Friday, reaching $20.60. The stock had a trading volume of 652,276 shares, compared to its average volume of 481,004. The stock's 50 day moving average is $21.94 and its 200 day moving average is $23.48. Photronics, Inc. has a twelve month low of $19.61 and a twelve month high of $31.60. The firm has a market capitalization of $1.31 billion, a PE ratio of 9.86 and a beta of 1.43.

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

Analysts Set New Price Targets

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

Insider Activity at Photronics

In other news, SVP Han Kyung Park sold 11,250 shares of the company's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $24.63, for a total transaction of $277,087.50. Following the completion of the sale, the senior vice president now owns 118,000 shares of the company's stock, valued at $2,906,340. This represents a 8.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kang Jyh Lee sold 17,500 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total transaction of $421,750.00. Following the completion of the sale, the chief executive officer now owns 510,850 shares of the company's stock, valued at $12,311,485. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,500 shares of company stock valued at $1,829,138. 3.20% of the stock is owned by corporate insiders.

Photronics Company 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.