Photronics, Inc. (NASDAQ:PLAB) Holdings Cut by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 4.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,600 shares of the semiconductor company’s stock after selling 1,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Photronics were worth $758,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP raised its holdings in shares of Photronics by 223.4% during the second quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 1,816 shares during the last quarter. GAMMA Investing LLC raised its stake in Photronics by 65.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after acquiring an additional 1,164 shares in the last quarter. Innealta Capital LLC acquired a new position in Photronics during the 2nd quarter worth $75,000. Palouse Capital Management Inc. acquired a new position in shares of Photronics during the second quarter valued at $75,000. Finally, CWM LLC lifted its holdings in Photronics by 155.2% in the second quarter. CWM LLC now owns 3,294 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 2,003 shares during the period. Institutional investors and hedge funds own 88.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Photronics Stock Performance

Shares of NASDAQ PLAB opened at $23.02 on Tuesday. Photronics, Inc. has a 1 year low of $19.41 and a 1 year high of $34.16. The firm has a market cap of $1.46 billion, a P/E ratio of 10.14 and a beta of 1.40. The stock has a fifty day moving average price of $23.76 and a two-hundred day moving average price of $25.09.

Photronics (NASDAQ:PLAB) last issued 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). Photronics had a return on equity of 9.46% and a net margin of 16.22%. The business had revenue of $211.00 million during the quarter, compared to the consensus estimate of $225.00 million. During the same quarter last year, the firm posted $0.51 earnings per share. Photronics’s revenue was down 5.9% compared to the same quarter last year. On average, research analysts predict that Photronics, Inc. will post 2.08 earnings per share for the current fiscal year.

About Photronics

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.