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

Victory Capital Management Inc. lessened its holdings in 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 firm owned 198,797 shares of the semiconductor company's stock after selling 331,604 shares during the quarter. Victory Capital Management Inc. owned 0.31% of Photronics worth $4,684,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings 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 worth $26,000 after purchasing an additional 762 shares during the last quarter. US Bancorp DE grew its holdings in shares of Photronics by 137.2% in 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 grew its holdings in shares of Photronics by 65.6% in 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 holdings in shares of Photronics by 17.6% in the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company's stock worth $81,000 after purchasing an additional 516 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Photronics by 76.8% in the 4th quarter. KBC Group NV now owns 3,467 shares of the semiconductor company's stock worth $82,000 after purchasing an additional 1,506 shares during the last quarter. Institutional investors own 88.38% of the company's stock.

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Photronics Trading Down 0.3 %

NASDAQ PLAB traded down $0.06 on Tuesday, hitting $21.47. 553,766 shares of the company were exchanged, compared to its average volume of 450,585. The firm has a 50 day moving average of $22.37 and a two-hundred day moving average of $23.58. The company has a market cap of $1.36 billion, a P/E ratio of 10.27 and a beta of 1.43. Photronics, Inc. has a 1-year low of $19.61 and a 1-year high of $31.60.

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 the consensus estimate of $0.47 by $0.05. The business had revenue of $212.14 million for 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 prior year, the company earned $0.48 EPS. Research analysts anticipate that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Insider Buying and Selling

In other Photronics news, EVP Christopher J. Progler sold 63,000 shares of the company's 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 transaction, the executive vice president now directly owns 219,166 shares in the company, valued at approximately $5,446,275.10. This represents a 22.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kang Jyh Lee sold 20,000 shares of the company's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $25.27, for a total transaction of $505,400.00. Following the transaction, the chief executive officer now owns 524,600 shares in the company, valued at approximately $13,256,642. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,000 shares of company stock worth $5,087,810 in the last 90 days. Corporate insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

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