Thrivent Financial for Lutherans Trims Stock Holdings in Photronics, Inc. (NASDAQ:PLAB)

Thrivent Financial for Lutherans decreased its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,754 shares of the semiconductor company’s stock after selling 2,839 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Photronics worth $1,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. US Bancorp DE raised 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 valued at $30,000 after purchasing an additional 701 shares during the period. Nisa Investment Advisors LLC grew its holdings in Photronics by 65.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 567 shares in the last quarter. Quarry LP increased its position 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 period. GAMMA Investing LLC increased its position in shares of Photronics by 65.8% during the third quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after buying an additional 1,164 shares during the period. Finally, Innealta Capital LLC purchased a new stake in shares of Photronics in the second quarter worth about $75,000. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Photronics Stock Performance

Photronics stock opened at $24.91 on Monday. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16. The stock has a market cap of $1.58 billion, a P/E ratio of 10.97 and a beta of 1.40. The firm’s fifty day moving average price is $24.21 and its 200-day moving average price is $24.64.

Photronics (NASDAQ:PLAB) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The business had revenue of $211.00 million during the quarter, compared to the consensus estimate of $225.00 million. Photronics had a return on equity of 9.46% and a net margin of 16.22%. Photronics’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. Sell-side analysts predict that Photronics, Inc. will post 2.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.