Pacer Advisors Inc. Sells 382,720 Shares of Photronics, Inc. (NASDAQ:PLAB)

Pacer Advisors Inc. lowered its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 16.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,991,956 shares of the semiconductor company’s stock after selling 382,720 shares during the period. Pacer Advisors Inc. owned about 3.15% of Photronics worth $46,930,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE lifted its stake 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 valued at $30,000 after acquiring an additional 701 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Photronics by 65.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 567 shares during the last quarter. Quarry LP lifted its stake in shares of Photronics by 223.4% in the 2nd quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,816 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Photronics by 65.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after acquiring an additional 1,164 shares during the last quarter. Finally, KBC Group NV lifted its stake 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 valued at $82,000 after acquiring an additional 1,506 shares during the last quarter. Institutional investors own 88.38% of the company’s stock.

Insider Buying and Selling at Photronics

In other Photronics news, CEO Kang Jyh Lee sold 8,750 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $24.40, for a total transaction of $213,500.00. Following the completion of the transaction, the chief executive officer now owns 572,100 shares of the company’s stock, valued at $13,959,240. This represents a 1.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christopher J. Progler sold 63,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $24.85, for a total value of $1,565,550.00. Following the transaction, the executive vice president now owns 219,166 shares in the company, valued at $5,446,275.10. This trade represents a 22.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 199,000 shares of company stock valued at $4,878,810 in the last 90 days. Insiders own 3.88% of the company’s stock.

Photronics Price Performance

PLAB opened at $22.63 on Tuesday. The business has a 50 day simple moving average of $24.56 and a two-hundred day simple moving average of $24.25. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 10.83 and a beta of 1.39. Photronics, Inc. has a one year low of $20.25 and a one year high of $34.16.

Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $222.60 million during the quarter, compared to analyst estimates of $218.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. Photronics’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 EPS. As a group, sell-side analysts expect that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, DA Davidson boosted their target price on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 12th.

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.