Invesco Ltd. Lowers Holdings in Photronics, Inc. (NASDAQ:PLAB)

Invesco Ltd. reduced its stake in Photronics, Inc. (NASDAQ:PLAB) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,122,855 shares of the semiconductor company’s stock after selling 111,086 shares during the period. Invesco Ltd.’s holdings in Photronics were worth $26,454,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PLAB. Smartleaf Asset Management LLC raised its position in 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 buying an additional 762 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Photronics during the fourth quarter valued at approximately $47,000. Parkside Financial Bank & Trust lifted its position in Photronics by 65.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 904 shares during the period. GAMMA Investing LLC boosted its holdings in Photronics by 17.6% in the fourth 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 raised its stake 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 buying an additional 1,506 shares during the last quarter. 88.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Kang Jyh Lee sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $20.90, for a total value of $209,000.00. Following the completion of the sale, the chief executive officer now directly owns 552,100 shares of the company’s stock, valued at approximately $11,538,890. This represents a 1.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Walter M. Fiederowicz sold 5,000 shares of Photronics stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $19.16, for a total transaction of $95,800.00. Following the transaction, the director now directly owns 24,548 shares in the company, valued at $470,339.68. This represents a 16.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,548 shares of company stock worth $877,093 over the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Photronics Stock Performance

Shares of NASDAQ:PLAB opened at $17.67 on Friday. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 8.45 and a beta of 1.40. The stock’s 50-day simple moving average is $20.35 and its two-hundred day simple moving average is $22.85. Photronics, Inc. has a 52-week low of $16.46 and a 52-week high of $31.60.

Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share 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 period last year, the firm earned $0.48 earnings per share. As a group, equities analysts forecast that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

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.