Victory Capital Management Inc. Sells 331,604 Shares of Photronics, Inc. (NASDAQ:PLAB)

Victory Capital Management Inc. cut its position in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) by 62.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 0.31% of Photronics worth $4,684,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PLAB. Four Tree Island Advisory LLC acquired a new position in shares of Photronics during the 4th quarter worth about $3,472,000. Barclays PLC increased its stake in shares of Photronics by 297.2% during the 3rd quarter. Barclays PLC now owns 114,133 shares of the semiconductor company's stock worth $2,826,000 after purchasing an additional 85,397 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Photronics by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company's stock worth $43,217,000 after purchasing an additional 85,160 shares during the last quarter. Hodges Capital Management Inc. increased 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 purchasing an additional 58,590 shares during the last quarter. Finally, Denali Advisors LLC acquired a new position in shares of Photronics during the 4th quarter worth about $1,319,000. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Photronics

In other news, SVP Han Kyung Park sold 11,250 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $23.80, for a total value of $267,750.00. Following the completion of the sale, the senior vice president now owns 102,500 shares in the company, valued at $2,439,500. This represents a 9.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christopher J. Progler sold 63,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were 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 owns 219,166 shares of the company's stock, valued at approximately $5,446,275.10. This represents a 22.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,000 shares of company stock valued at $5,087,810. Corporate insiders own 3.20% of the company's stock.

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Photronics Stock Performance

Shares of PLAB stock traded down $0.01 during midday trading on Tuesday, hitting $21.53. 61,439 shares of the company were exchanged, compared to its average volume of 448,972. The firm has a market capitalization of $1.37 billion, a P/E ratio of 10.30 and a beta of 1.43. The firm's 50 day moving average price is $22.43 and its two-hundred day moving average price is $23.61. Photronics, Inc. has a 52 week low of $19.61 and a 52 week high of $31.60.

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 analysts' consensus estimates of $0.47 by $0.05. The firm 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 quarter in the previous year, the firm posted $0.48 EPS. Analysts expect that Photronics, Inc. will post 2.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, DA Davidson boosted their price objective on shares of Photronics from $32.00 to $35.00 and gave the stock a "buy" rating in a research note 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.