Segall Bryant & Hamill LLC Trims Stake in Photronics, Inc. (NASDAQ:PLAB)

Segall Bryant & Hamill LLC lessened its stake in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 12.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,717 shares of the semiconductor company's stock after selling 27,066 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.29% of Photronics worth $3,855,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Federated Hermes Inc. bought a new stake in shares of Photronics in the fourth quarter valued at $47,000. Menard Financial Group LLC bought a new stake in Photronics in the 4th quarter valued at about $66,000. Canada Pension Plan Investment Board bought a new stake in Photronics in the 4th quarter valued at about $101,000. Heck Capital Advisors LLC bought a new stake in Photronics in the 4th quarter valued at about $110,000. Finally, CWM LLC raised its stake in Photronics by 36.1% in the 1st quarter. CWM LLC now owns 6,755 shares of the semiconductor company's stock valued at $140,000 after acquiring an additional 1,793 shares during the period. Institutional investors own 88.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PLAB shares. Craig Hallum started coverage on Photronics in a research note on Wednesday, June 11th. They issued a "buy" rating and a $32.00 price objective on the stock. DA Davidson reduced their price target on Photronics from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Finally, Wall Street Zen cut Photronics from a "buy" rating to a "hold" rating in a research report on Friday, May 30th.

Photronics Trading Down 2.1%

Shares of NASDAQ PLAB traded down $0.41 during mid-day trading on Friday, hitting $19.22. The company had a trading volume of 454,764 shares, compared to its average volume of 558,284. Photronics, Inc. has a 1 year low of $16.46 and a 1 year high of $31.60. The stock's 50-day moving average price is $19.12 and its 200-day moving average price is $20.40. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 10.01 and a beta of 1.40.

Photronics (NASDAQ:PLAB - Get Free Report) last posted its earnings results on Wednesday, May 28th. The semiconductor company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.08). Photronics had a return on equity of 8.54% and a net margin of 14.00%. The business had revenue of $210.99 million for the quarter, compared to analysts' expectations of $212.00 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Photronics's quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts forecast that Photronics, Inc. will post 2.3 earnings per share for the current year.

Insider Transactions at Photronics

In other news, Director David A. Garcia acquired 2,650 shares of the business's stock in a transaction dated Friday, June 27th. The stock was purchased at an average cost of $19.00 per share, for a total transaction of $50,350.00. Following the acquisition, the director owned 10,198 shares of the company's stock, valued at $193,762. This trade represents a 35.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kang Jyh Lee sold 4,882 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $18.35, for a total value of $89,584.70. Following the completion of the sale, the director directly owned 532,100 shares of the company's stock, valued at approximately $9,764,035. This trade represents a 0.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,382 shares of company stock valued at $985,035 over the last quarter. 3.20% of the stock is owned by company 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.