Teacher Retirement System of Texas Sells 61,013 Shares of Photronics, Inc. (NASDAQ:PLAB)

Teacher Retirement System of Texas decreased its position in Photronics, Inc. (NASDAQ:PLAB) by 67.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,865 shares of the semiconductor company’s stock after selling 61,013 shares during the quarter. Teacher Retirement System of Texas’ holdings in Photronics were worth $599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PLAB. Charles Schwab Investment Management Inc. grew its position in Photronics by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,007,582 shares of the semiconductor company’s stock valued at $23,739,000 after buying an additional 40,579 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Photronics during the 4th quarter valued at $398,000. Raymond James Financial Inc. bought a new stake in shares of Photronics during the 4th quarter valued at $1,206,000. Delphi Management Inc. MA increased its stake in shares of Photronics by 19.1% in the 4th quarter. Delphi Management Inc. MA now owns 56,803 shares of the semiconductor company’s stock worth $1,338,000 after purchasing an additional 9,115 shares in the last quarter. Finally, Boston Partners raised its holdings in Photronics by 45.3% in the 4th quarter. Boston Partners now owns 799,439 shares of the semiconductor company’s stock worth $18,893,000 after purchasing an additional 249,222 shares during the period. 88.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Photronics

In other news, Director Kang Jyh Lee sold 4,882 shares of the company’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $18.35, for a total transaction of $89,584.70. Following the sale, the director directly owned 532,100 shares in the company, valued at approximately $9,764,035. This represents a 0.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Walter M. Fiederowicz sold 5,000 shares of Photronics stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $17.79, for a total transaction of $88,950.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, 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 sold a total of 54,382 shares of company stock valued at $1,073,985 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Photronics Trading Down 0.7%

NASDAQ:PLAB opened at $19.16 on Wednesday. The stock has a 50-day moving average price of $19.12 and a 200 day moving average price of $20.46. The stock has a market capitalization of $1.15 billion, a P/E ratio of 9.98 and a beta of 1.40. Photronics, Inc. has a 12-month low of $16.46 and a 12-month high of $31.60.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, May 28th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.08). The company had revenue of $210.99 million for the quarter, compared to analysts’ expectations of $212.00 million. Photronics had a net margin of 14.00% and a return on equity of 8.54%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business earned $0.46 earnings per share. On average, research analysts predict that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLAB has been the subject of a number of recent research reports. DA Davidson cut their price objective on Photronics from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Craig Hallum initiated coverage on shares of Photronics in a research report on Wednesday, June 11th. They issued a “buy” rating and a $32.00 price target for the company. Finally, Wall Street Zen downgraded shares of Photronics from a “buy” rating to a “hold” rating in a research report on Friday, May 30th.

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.