Photronics, Inc. (NASDAQ:PLAB) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 85.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,188 shares of the semiconductor company's stock after selling 37,551 shares during the quarter. SG Americas Securities LLC's holdings in Photronics were worth $194,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. US Bancorp DE lifted its stake in shares of Photronics by 201.5% during the 2nd quarter. US Bancorp DE now owns 1,022 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 683 shares during the last quarter. Orion Capital Management LLC acquired a new position in Photronics during the 3rd quarter valued at about $28,000. Tower Research Capital LLC TRC increased its position in Photronics by 49.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,761 shares of the semiconductor company's stock valued at $36,000 after buying an additional 582 shares in the last quarter. Covestor Ltd increased its position in Photronics by 587.5% during the 1st quarter. Covestor Ltd now owns 2,427 shares of the semiconductor company's stock valued at $41,000 after buying an additional 2,074 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Photronics during the 3rd quarter valued at about $53,000. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered Photronics from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 22nd.

Photronics Stock Performance

Photronics stock traded down $1.05 during midday trading on Friday, hitting $27.63. 336,079 shares of the company were exchanged, compared to its average volume of 399,087. The firm has a market capitalization of $1.75 billion, a PE ratio of 12.39 and a beta of 1.40. Photronics, Inc. has a fifty-two week low of $13.86 and a fifty-two week high of $34.16. The business has a fifty day simple moving average of $29.37 and a two-hundred day simple moving average of $26.16.

Photronics (NASDAQ:PLAB - Get Free Report) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $216.30 million for the quarter, compared to analyst estimates of $220.00 million. Photronics had a return on equity of 10.37% and a net margin of 15.34%. The firm's revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.40 earnings per share. As a group, equities analysts expect that Photronics, Inc. will post 2.15 earnings per share for the current 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.