Rhumbline Advisers Sells 800 Shares of Photronics, Inc. (NASDAQ:PLAB)

Rhumbline Advisers decreased its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 180,358 shares of the semiconductor company’s stock after selling 800 shares during the quarter. Rhumbline Advisers’ holdings in Photronics were worth $4,249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PLAB. Four Tree Island Advisory LLC bought a new position in Photronics in the fourth quarter worth approximately $3,472,000. Empowered Funds LLC increased its stake in shares of Photronics by 13.4% in the 4th quarter. Empowered Funds LLC now owns 376,726 shares of the semiconductor company’s stock worth $8,876,000 after purchasing an additional 44,602 shares in the last quarter. Tectonic Advisors LLC raised its holdings in Photronics by 5.5% in the 4th quarter. Tectonic Advisors LLC now owns 37,268 shares of the semiconductor company’s stock worth $878,000 after purchasing an additional 1,950 shares during the period. Hodges Capital Management Inc. grew 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 valued at $4,970,000 after acquiring an additional 58,590 shares during the period. Finally, Heck Capital Advisors LLC bought a new stake in shares of Photronics during the 4th quarter valued at $110,000. 88.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Han Kyung Park sold 11,250 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $23.80, for a total transaction of $267,750.00. Following the sale, the senior vice president now directly owns 102,500 shares of the company’s stock, valued at $2,439,500. This trade represents a 9.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Adam M. Lewis sold 19,750 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $24.11, for a total transaction of $476,172.50. Following the sale, the director now directly owns 22,250 shares in the company, valued at approximately $536,447.50. The trade was a 47.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 199,000 shares of company stock worth $4,878,810 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Photronics Stock Performance

PLAB opened at $20.84 on Friday. The stock’s 50 day moving average price is $23.11 and its 200-day moving average price is $23.84. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 9.97 and a beta of 1.37. Photronics, Inc. has a one year low of $20.25 and a one year high of $31.60.

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

Analyst Ratings Changes

Separately, DA Davidson lifted their price objective on shares of Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research 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.