Victory Capital Management Inc. Has $4.68 Million Position in Photronics, Inc. (NASDAQ:PLAB)

Victory Capital Management Inc. decreased its position in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 62.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 198,797 shares of the semiconductor company's stock after selling 331,604 shares during the period. Victory Capital Management Inc. owned approximately 0.31% of Photronics worth $4,684,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its position in shares of Photronics by 216.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 762 shares in the last quarter. US Bancorp DE increased its stake in shares of Photronics by 137.2% during 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. Parkside Financial Bank & Trust increased its stake in shares of Photronics by 65.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company's stock worth $54,000 after purchasing an additional 904 shares during the last quarter. GAMMA Investing LLC grew its stake in Photronics by 17.6% in the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company's stock valued at $81,000 after buying an additional 516 shares during the last quarter. Finally, KBC Group NV grew its stake 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 last quarter. 88.38% of the stock is currently owned by institutional investors.

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Photronics Trading Up 1.3 %

PLAB stock traded up $0.28 during trading on Monday, hitting $21.54. 232,887 shares of the stock traded hands, compared to its average volume of 449,356. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 10.29 and a beta of 1.43. Photronics, Inc. has a one year low of $19.61 and a one year high of $31.60. The company has a 50 day simple moving average of $22.49 and a 200 day simple moving average of $23.64.

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 for the quarter, topping analysts' consensus estimates of $0.47 by $0.05. The business had revenue of $212.14 million during 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 firm posted $0.48 earnings per share. As a group, analysts predict that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Photronics

In related news, SVP Han Kyung Park sold 11,250 shares of the firm's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $23.80, for a total transaction of $267,750.00. Following the transaction, the senior vice president now directly owns 102,500 shares of the company's stock, valued at approximately $2,439,500. This trade represents a 9.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kang Jyh Lee sold 20,000 shares of the firm's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $25.27, for a total transaction of $505,400.00. Following the transaction, the chief executive officer now directly owns 524,600 shares in the company, valued at approximately $13,256,642. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,000 shares of company stock valued at $5,087,810. Corporate insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

Separately, DA Davidson raised 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.