Meros Investment Management LP Lowers Stake in Photronics, Inc. (NASDAQ:PLAB)

Meros Investment Management LP decreased its position in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 452,971 shares of the semiconductor company's stock after selling 23,424 shares during the period. Photronics comprises 4.9% of Meros Investment Management LP's portfolio, making the stock its 3rd biggest position. Meros Investment Management LP owned about 0.72% of Photronics worth $10,672,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in Photronics by 1.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 38,042 shares of the semiconductor company's stock worth $896,000 after acquiring an additional 690 shares during the period. Bridge City Capital LLC grew its holdings in shares of Photronics by 0.8% in the 4th quarter. Bridge City Capital LLC now owns 90,245 shares of the semiconductor company's stock valued at $2,126,000 after buying an additional 708 shares during the period. Smartleaf Asset Management LLC lifted 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 valued at $26,000 after acquiring an additional 762 shares in the last quarter. Cerity Partners LLC lifted its position in Photronics by 9.2% in the 4th quarter. Cerity Partners LLC now owns 9,314 shares of the semiconductor company's stock valued at $227,000 after acquiring an additional 785 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in 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 acquiring an additional 904 shares in the last quarter. Institutional investors own 88.38% of the company's stock.

Insider Buying and Selling

In other news, Director Walter M. Fiederowicz sold 10,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $21.63, for a total transaction of $216,300.00. Following the completion of the transaction, the director now owns 29,548 shares of the company's stock, valued at approximately $639,123.24. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Price Performance

Shares of NASDAQ:PLAB opened at $20.61 on Tuesday. The company's 50-day moving average price is $19.46 and its two-hundred day moving average price is $22.26. Photronics, Inc. has a one year low of $16.46 and a one year high of $31.60. The stock has a market capitalization of $1.31 billion, a PE ratio of 9.86 and a beta of 1.43.

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, beating analysts' consensus estimates of $0.47 by $0.05. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The company had revenue of $212.14 million for the quarter, compared to analysts' expectations of $210.00 million. During the same period in the prior year, the firm earned $0.48 EPS. On average, analysts anticipate 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.

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