Ameriprise Financial Inc. Has $6.45 Million Stake in Photronics, Inc. (NASDAQ:PLAB)

Ameriprise Financial Inc. lowered its holdings in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 7.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 273,619 shares of the semiconductor company's stock after selling 23,162 shares during the quarter. Ameriprise Financial Inc. owned about 0.43% of Photronics worth $6,446,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PLAB. Smartleaf Asset Management LLC grew its stake in shares of Photronics by 216.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 762 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Photronics during the 4th quarter worth approximately $47,000. Parkside Financial Bank & Trust lifted its position in shares of Photronics by 65.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company's stock valued at $54,000 after acquiring an additional 904 shares in the last quarter. KBC Group NV increased its stake in Photronics by 76.8% in the fourth 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, Canada Pension Plan Investment Board acquired a new position in Photronics in the fourth quarter valued at $101,000. Hedge funds and other institutional investors own 88.38% of the company's stock.

Photronics Stock Down 10.4%

Shares of NASDAQ PLAB traded down $2.09 on Wednesday, hitting $17.97. The company had a trading volume of 322,824 shares, compared to its average volume of 525,701. Photronics, Inc. has a 12-month low of $16.46 and a 12-month high of $31.60. The business has a 50 day moving average of $19.26 and a two-hundred day moving average of $21.98. The firm has a market capitalization of $1.14 billion, a P/E ratio of 8.62 and a beta of 1.43.

Photronics (NASDAQ:PLAB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The semiconductor company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.08). Photronics had a return on equity of 9.10% and a net margin of 15.07%. During the same period last year, the firm earned $0.46 EPS. The company's quarterly revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Kang Jyh Lee sold 10,000 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $21.60, for a total transaction of $216,000.00. Following the completion of the sale, the chief executive officer now directly owns 542,100 shares of the company's stock, valued at $11,709,360. This trade represents a 1.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Walter M. Fiederowicz sold 5,000 shares of the stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $17.79, for a total value of $88,950.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $88,950. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,548 shares of company stock worth $1,093,093 in the last three months. 3.20% of the stock is currently owned by insiders.

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.