Photronics, Inc. (NASDAQ:PLAB) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its holdings in Photronics, Inc. (NASDAQ:PLAB) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 209,690 shares of the semiconductor company’s stock after selling 19,260 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.33% of Photronics worth $5,192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLAB. Vanguard Group Inc. raised its stake in shares of Photronics by 4.9% during the first quarter. Vanguard Group Inc. now owns 5,715,429 shares of the semiconductor company’s stock worth $161,861,000 after purchasing an additional 265,533 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Photronics by 17.2% during the second quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company’s stock worth $61,252,000 after acquiring an additional 364,150 shares during the period. LSV Asset Management raised its position in Photronics by 16.0% in the second quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock worth $49,094,000 after acquiring an additional 275,082 shares in the last quarter. American Century Companies Inc. lifted its holdings in Photronics by 12.8% in the second quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock valued at $41,560,000 after acquiring an additional 191,809 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Photronics by 225.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 840,538 shares of the semiconductor company’s stock worth $23,805,000 after purchasing an additional 582,664 shares in the last quarter. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Photronics Trading Down 0.2 %

NASDAQ PLAB opened at $24.14 on Tuesday. The company has a market capitalization of $1.53 billion, a PE ratio of 11.18 and a beta of 1.40. The business’s 50-day moving average price is $23.59 and its 200 day moving average price is $25.56. Photronics, Inc. has a twelve month low of $18.03 and a twelve month high of $34.16.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.05). The firm had revenue of $211.00 million for the quarter, compared to analyst estimates of $225.00 million. Photronics had a return on equity of 9.46% and a net margin of 16.22%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. Equities analysts predict that Photronics, Inc. will post 2.08 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th.

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.