Photronics, Inc. (NASDAQ:PLAB) Shares Sold by Bridge City Capital LLC

Bridge City Capital LLC trimmed its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 1.1% in the first quarter, Holdings Channel.com reports. The firm owned 89,233 shares of the semiconductor company’s stock after selling 1,012 shares during the period. Bridge City Capital LLC’s holdings in Photronics were worth $1,852,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Perkins Coie Trust Co grew its holdings in Photronics by 11.9% in the 1st quarter. Perkins Coie Trust Co now owns 9,400 shares of the semiconductor company’s stock worth $195,000 after buying an additional 1,000 shares in the last quarter. GAMMA Investing LLC increased its stake in Photronics by 1,761.0% in the 1st quarter. GAMMA Investing LLC now owns 64,169 shares of the semiconductor company’s stock valued at $1,332,000 after buying an additional 60,721 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Photronics during the 4th quarter worth about $298,000. Menard Financial Group LLC bought a new stake in Photronics in the fourth quarter worth $66,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Photronics during the fourth quarter valued at approximately $3,419,000. Institutional investors own 88.38% of the company’s stock.

Insiders Place Their Bets

In other Photronics news, CEO Kang Jyh Lee sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $21.60, for a total transaction of $216,000.00. Following the transaction, the chief executive officer now owns 542,100 shares of the company’s stock, valued at $11,709,360. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Walter M. Fiederowicz sold 5,000 shares of the firm’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $17.79, for a total value of $88,950.00. Following the sale, the director now directly owns 5,000 shares of the company’s stock, valued at $88,950. This represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,548 shares of company stock valued at $884,093 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Photronics Stock Performance

Shares of PLAB stock opened at $18.11 on Monday. Photronics, Inc. has a 52-week low of $16.46 and a 52-week high of $31.60. The firm’s 50 day moving average price is $18.68 and its two-hundred day moving average price is $21.57. The stock has a market cap of $1.15 billion, a PE ratio of 8.67 and a beta of 1.38.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.08). The company had revenue of $210.99 million during the quarter, compared to the consensus estimate of $212.00 million. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 EPS. As a group, sell-side analysts predict that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on PLAB shares. DA Davidson decreased their price target on shares of Photronics from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Wall Street Zen downgraded shares of Photronics from a “buy” rating to a “hold” rating in a research note on Friday, May 30th.

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.