Federated Hermes Inc. Has $346,000 Stake in Photronics, Inc. (NASDAQ:PLAB)

Federated Hermes Inc. cut its position in Photronics, Inc. (NASDAQ:PLAB) by 30.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,041 shares of the semiconductor company’s stock after selling 6,060 shares during the quarter. Federated Hermes Inc.’s holdings in Photronics were worth $346,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System increased its position in Photronics by 3.1% during the 2nd quarter. Arizona State Retirement System now owns 17,735 shares of the semiconductor company’s stock worth $438,000 after purchasing an additional 530 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Photronics by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 28,145 shares of the semiconductor company’s stock worth $694,000 after buying an additional 563 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of Photronics by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 54,791 shares of the semiconductor company’s stock valued at $1,552,000 after acquiring an additional 759 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Photronics during the 4th quarter valued at $25,000. Finally, ProShare Advisors LLC boosted its holdings in shares of Photronics by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 12,345 shares of the semiconductor company’s stock valued at $350,000 after acquiring an additional 848 shares in the last quarter. Institutional investors own 88.38% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Photronics from a “buy” rating to a “hold” rating in a research report on Friday, September 20th.

Photronics Price Performance

NASDAQ:PLAB opened at $24.04 on Wednesday. Photronics, Inc. has a one year low of $18.03 and a one year high of $34.16. The company has a market cap of $1.52 billion, a PE ratio of 11.13 and a beta of 1.40. The firm’s 50 day simple moving average is $23.81 and its 200 day simple moving average is $25.98.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The business 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%. Photronics’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. Equities research analysts expect that Photronics, Inc. will post 2.08 EPS for the current 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.