Teacher Retirement System of Texas Sells 32,410 Shares of Photronics, Inc. (NASDAQ:PLAB)

Teacher Retirement System of Texas trimmed its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 26.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 89,878 shares of the semiconductor company’s stock after selling 32,410 shares during the period. Teacher Retirement System of Texas’ holdings in Photronics were worth $2,118,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PLAB. Smartleaf Asset Management LLC raised its stake in Photronics by 216.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 762 shares during the last quarter. Parkside Financial Bank & Trust raised its position 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 boosted 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 worth $81,000 after purchasing an additional 516 shares in the last quarter. KBC Group NV grew its position in Photronics by 76.8% during the 4th quarter. KBC Group NV now owns 3,467 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 1,506 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in Photronics during the 4th quarter valued at about $110,000. 88.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Photronics Price Performance

PLAB stock opened at $21.68 on Thursday. The stock has a market capitalization of $1.38 billion, a P/E ratio of 10.37 and a beta of 1.43. Photronics, Inc. has a 1-year low of $19.61 and a 1-year high of $31.60. The business has a fifty day moving average price of $22.08 and a 200-day moving average price of $23.49.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.47 by $0.05. The company had revenue of $212.14 million during the quarter, compared to the consensus estimate of $210.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. During the same period last year, the company earned $0.48 EPS. As a group, analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current year.

Insider Activity

In other Photronics news, SVP Han Kyung Park sold 11,250 shares of Photronics stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $24.63, for a total value of $277,087.50. Following the completion of the sale, the senior vice president now owns 118,000 shares of the company’s stock, valued at approximately $2,906,340. The trade was a 8.70 % 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 8,750 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $24.40, for a total transaction of $213,500.00. Following the sale, the chief executive officer now owns 572,100 shares of the company’s stock, valued at approximately $13,959,240. This represents a 1.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,500 shares of company stock valued at $1,829,138 over the last three months. Insiders own 3.20% of the company’s stock.

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.