Photronics, Inc. (NASDAQ:PLAB) Shares Sold by Man Group plc

Man Group plc cut its holdings in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 269,307 shares of the semiconductor company's stock after selling 15,216 shares during the period. Man Group plc owned 0.43% of Photronics worth $6,345,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PLAB. Barclays PLC increased its position in Photronics by 297.2% during the 3rd quarter. Barclays PLC now owns 114,133 shares of the semiconductor company's stock valued at $2,826,000 after buying an additional 85,397 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Photronics by 2.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 57,015 shares of the semiconductor company's stock valued at $1,343,000 after acquiring an additional 1,333 shares in the last quarter. 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 valued at $82,000 after purchasing an additional 1,506 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in Photronics in the 4th quarter worth approximately $110,000. Finally, Hodges Capital Management Inc. grew its position in Photronics by 38.4% during the 4th quarter. Hodges Capital Management Inc. now owns 210,975 shares of the semiconductor company's stock worth $4,970,000 after purchasing an additional 58,590 shares during the last quarter. Hedge funds and other institutional investors own 88.38% of the company's stock.

Photronics Stock Performance

Shares of NASDAQ PLAB traded down $0.38 during mid-day trading on Monday, hitting $19.47. The stock had a trading volume of 380,731 shares, compared to its average volume of 525,351. The firm has a market cap of $1.24 billion, a PE ratio of 9.32 and a beta of 1.43. The company has a 50 day moving average of $19.32 and a two-hundred day moving average of $22.03. 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 released its quarterly earnings data 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 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 in the prior year, the firm earned $0.48 EPS. Equities research analysts predict that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Walter M. Fiederowicz sold 10,000 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $21.63, for a total transaction of $216,300.00. Following the sale, the director now directly owns 29,548 shares in the company, valued at $639,123.24. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 54,548 shares of company stock worth $1,093,093. Corporate insiders own 3.20% of the company's stock.

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.