Photronics, Inc. (NASDAQ:PLAB) Stake Lessened by Rhumbline Advisers

Rhumbline Advisers cut its stake in Photronics, Inc. (NASDAQ:PLAB) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,848 shares of the semiconductor company’s stock after selling 5,369 shares during the period. Rhumbline Advisers owned 0.29% of Photronics worth $4,560,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PLAB. SummerHaven Investment Management LLC raised its stake in shares of Photronics by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 28,145 shares of the semiconductor company’s stock valued at $694,000 after purchasing an additional 563 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in Photronics by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 54,791 shares of the semiconductor company’s stock valued at $1,552,000 after buying an additional 759 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in Photronics during the fourth quarter valued at approximately $25,000. ProShare Advisors LLC lifted its holdings in Photronics by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 12,345 shares of the semiconductor company’s stock worth $350,000 after buying an additional 848 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in Photronics by 2.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the semiconductor company’s stock worth $787,000 after buying an additional 900 shares during the last quarter. 88.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised Photronics from a “hold” rating to a “buy” rating in a research report on Thursday.

Photronics Stock Performance

Photronics stock opened at $23.65 on Monday. Photronics, Inc. has a 1 year low of $18.03 and a 1 year high of $34.16. The firm’s 50-day moving average is $24.21 and its 200-day moving average is $26.26. The company has a market cap of $1.50 billion, a P/E ratio of 10.95 and a beta of 1.40.

Photronics (NASDAQ:PLAB) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.51 earnings per share (EPS) 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%. The business’s revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. As a group, sell-side analysts predict that Photronics, Inc. will post 2.08 earnings per share for the current year.

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.