Comerica Bank Lowers Stock Holdings in Photronics, Inc. (NASDAQ:PLAB)

Comerica Bank cut its holdings in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) by 15.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 85,440 shares of the semiconductor company's stock after selling 15,128 shares during the quarter. Comerica Bank owned about 0.13% of Photronics worth $2,013,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its holdings in shares of Photronics by 216.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 762 shares during the period. Federated Hermes Inc. purchased a new position in Photronics during the fourth quarter worth approximately $47,000. Parkside Financial Bank & Trust boosted its holdings 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 valued at $54,000 after purchasing an additional 904 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Photronics by 17.6% during the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company's stock worth $81,000 after buying an additional 516 shares during the last quarter. Finally, KBC Group NV raised its position 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 worth $82,000 after buying an additional 1,506 shares during the period. 88.38% of the stock is owned by institutional investors and hedge funds.

Photronics Trading Down 0.6 %

Shares of Photronics stock opened at $19.42 on Friday. The stock has a market capitalization of $1.23 billion, a P/E ratio of 9.29 and a beta of 1.43. The business's fifty day moving average price is $19.47 and its 200 day moving average price is $22.29. Photronics, Inc. has a twelve month low of $16.46 and a twelve month high of $31.60.

Photronics (NASDAQ:PLAB - Get Free Report) last issued its earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.05. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The business had revenue of $212.14 million during the quarter, compared to analysts' expectations of $210.00 million. During the same quarter in the previous year, the business earned $0.48 EPS. As a group, sell-side analysts predict that Photronics, Inc. will post 2.3 EPS for the current year.

Insiders Place Their Bets

In other news, Director Walter M. Fiederowicz sold 5,000 shares of the business's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $17.79, for a total transaction of $88,950.00. Following the transaction, the director now directly owns 5,000 shares of the company's stock, valued at approximately $88,950. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kang Jyh Lee sold 10,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $20.90, for a total transaction of $209,000.00. Following the sale, the chief executive officer now directly owns 552,100 shares of the company's stock, valued at approximately $11,538,890. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,548 shares of company stock worth $1,093,093 over the last quarter. 3.20% of the stock is owned by corporate insiders.

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.

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