Parkside Financial Bank & Trust Has $54,000 Position in Photronics, Inc. (NASDAQ:PLAB)

Parkside Financial Bank & Trust grew its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 65.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,283 shares of the semiconductor company’s stock after acquiring an additional 904 shares during the period. Parkside Financial Bank & Trust’s holdings in Photronics were worth $54,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Creative Planning acquired a new position in Photronics in the third quarter worth approximately $250,000. Nisa Investment Advisors LLC grew its position in Photronics by 65.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 567 shares in the last quarter. US Bancorp DE increased its stake in shares of Photronics by 137.2% during the 3rd quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 701 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Photronics by 21.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,930 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 1,066 shares in the last quarter. Finally, Easterly Investment Partners LLC lifted its stake in shares of Photronics by 17.8% in the 3rd quarter. Easterly Investment Partners LLC now owns 411,188 shares of the semiconductor company’s stock valued at $10,181,000 after purchasing an additional 62,201 shares during the last quarter. 88.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Photronics news, CEO Kang Jyh Lee sold 8,750 shares of Photronics stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $24.40, for a total transaction of $213,500.00. Following the completion of the transaction, the chief executive officer now directly owns 572,100 shares of the company’s stock, valued at approximately $13,959,240. This trade represents a 1.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher J. Progler sold 63,000 shares of Photronics stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $24.85, for a total transaction of $1,565,550.00. Following the transaction, the executive vice president now directly owns 219,166 shares of the company’s stock, valued at $5,446,275.10. This represents a 22.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 199,000 shares of company stock valued at $4,878,810 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson increased their target price on shares of Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th.

Photronics Stock Down 4.6 %

Shares of NASDAQ PLAB opened at $19.89 on Tuesday. Photronics, Inc. has a 12 month low of $19.79 and a 12 month high of $31.60. The company has a market cap of $1.26 billion, a P/E ratio of 9.52 and a beta of 1.37. The business’s 50 day moving average is $23.03 and its two-hundred day moving average is $23.83.

Photronics (NASDAQ:PLAB) last released its earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $212.14 million during the quarter, compared to analysts’ expectations of $210.00 million. Photronics had a net margin of 15.07% and a return on equity of 9.10%. During the same quarter last year, the company earned $0.48 earnings per share. Sell-side analysts expect that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Photronics 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.