UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 15,369 Shares of Photronics, Inc. (NASDAQ:PLAB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Photronics, Inc. (NASDAQ:PLAB) by 12.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,467 shares of the semiconductor company’s stock after selling 15,369 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.17% of Photronics worth $2,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Victory Capital Management Inc. lifted its stake in shares of Photronics by 4.9% during the 3rd quarter. Victory Capital Management Inc. now owns 530,401 shares of the semiconductor company’s stock worth $13,133,000 after acquiring an additional 24,834 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Photronics during the third quarter valued at $730,000. FMR LLC grew its holdings in shares of Photronics by 36.0% in the third quarter. FMR LLC now owns 135,208 shares of the semiconductor company’s stock worth $3,348,000 after purchasing an additional 35,825 shares during the last quarter. Inspire Advisors LLC purchased a new position in Photronics in the 2nd quarter worth about $2,112,000. Finally, Farther Finance Advisors LLC lifted its holdings in 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 buying an additional 1,066 shares in the last quarter. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Photronics Price Performance

PLAB stock opened at $26.49 on Friday. Photronics, Inc. has a 1-year low of $20.25 and a 1-year high of $34.16. The business has a 50-day moving average price of $24.48 and a 200 day moving average price of $24.54. The company has a market capitalization of $1.68 billion, a P/E ratio of 12.67 and a beta of 1.41.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The business had revenue of $222.60 million during the quarter, compared to analyst estimates of $218.00 million. During the same quarter in the previous year, the business posted $0.60 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts anticipate that Photronics, Inc. will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. DA Davidson upped their target price on shares of Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com raised Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th.

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.