New York State Common Retirement Fund Lowers Stake in Photronics, Inc. (NASDAQ:PLAB)

New York State Common Retirement Fund lowered its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,431 shares of the semiconductor company’s stock after selling 1,513 shares during the quarter. New York State Common Retirement Fund owned 0.15% of Photronics worth $1,260,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Putnam Investments LLC raised its position in Photronics by 37.8% in the 2nd quarter. Putnam Investments LLC now owns 350,000 shares of the semiconductor company’s stock worth $4,624,000 after purchasing an additional 96,100 shares during the period. Palouse Capital Management Inc. grew its holdings in Photronics by 7.0% in the 3rd quarter. Palouse Capital Management Inc. now owns 23,372 shares of the semiconductor company’s stock worth $319,000 after acquiring an additional 1,534 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Photronics by 4.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 29,900 shares of the semiconductor company’s stock worth $408,000 after acquiring an additional 1,300 shares during the last quarter. Royal Bank of Canada grew its holdings in Photronics by 85.9% in the 2nd quarter. Royal Bank of Canada now owns 79,065 shares of the semiconductor company’s stock worth $1,046,000 after acquiring an additional 36,542 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Photronics by 3.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 45,213 shares of the semiconductor company’s stock worth $616,000 after acquiring an additional 1,355 shares during the last quarter. Hedge funds and other institutional investors own 89.37% of the company’s stock.

In related news, CEO Peter S. Kirlin sold 61,250 shares of Photronics stock in a transaction dated Wednesday, December 8th. The shares were sold at an average price of $16.59, for a total transaction of $1,016,137.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mitchell G. Tyson sold 20,000 shares of Photronics stock in a transaction dated Monday, January 3rd. The shares were sold at an average price of $19.18, for a total transaction of $383,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 126,445 shares of company stock worth $2,247,569 in the last ninety days. Insiders own 3.65% of the company’s stock.

Separately, Zacks Investment Research raised shares of Photronics from a “hold” rating to a “strong-buy” rating and set a $20.00 price target on the stock in a report on Saturday, December 11th.

Shares of PLAB opened at $19.79 on Friday. The firm’s 50-day moving average price is $16.27 and its 200-day moving average price is $14.41. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 21.75 and a beta of 0.97. The company has a current ratio of 3.13, a quick ratio of 2.81 and a debt-to-equity ratio of 0.09. Photronics, Inc. has a 1-year low of $10.95 and a 1-year high of $19.92.

Photronics (NASDAQ:PLAB) last announced its earnings results on Wednesday, December 8th. The semiconductor company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.08. The firm had revenue of $181.30 million for the quarter, compared to analyst estimates of $175.00 million. Photronics had a net margin of 8.35% and a return on equity of 5.24%. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. On average, research analysts forecast that Photronics, Inc. will post 1.3 EPS for the current fiscal year.

About Photronics

Photronics, Inc manufactures photomasks with high precision photographic quartz or glass plates containing microscopic images of electronic circuits. It manufactures semiconductors and flat-panel displays and is used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during the fabrication of integrated circuits, a variety of FPDs and other types of electrical and optical components.

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Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

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