State of Alaska Department of Revenue Reduces Position in Photronics, Inc. (NASDAQ:PLAB)

State of Alaska Department of Revenue decreased its holdings in Photronics, Inc. (NASDAQ:PLAB) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,155 shares of the semiconductor company’s stock after selling 1,042 shares during the quarter. State of Alaska Department of Revenue’s holdings in Photronics were worth $895,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Photronics by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,715,429 shares of the semiconductor company’s stock valued at $161,861,000 after purchasing an additional 265,533 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Photronics by 17.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company’s stock valued at $61,252,000 after acquiring an additional 364,150 shares during the last quarter. LSV Asset Management grew its holdings in Photronics by 16.0% during the 2nd quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock worth $49,094,000 after acquiring an additional 275,082 shares in the last quarter. American Century Companies Inc. increased its position in shares of Photronics by 12.8% in the 2nd quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock worth $41,560,000 after purchasing an additional 191,809 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Photronics by 225.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 840,538 shares of the semiconductor company’s stock valued at $23,805,000 after purchasing an additional 582,664 shares in the last quarter. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Analyst Upgrades and Downgrades

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

Photronics Trading Up 4.3 %

Shares of PLAB opened at $24.00 on Wednesday. Photronics, Inc. has a 52 week low of $19.41 and a 52 week high of $34.16. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 10.57 and a beta of 1.40. The stock has a 50 day moving average of $23.76 and a 200-day moving average of $25.09.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.51 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 analyst estimates of $225.00 million. Photronics had a return on equity of 9.46% and a net margin of 16.22%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. On average, sell-side analysts predict that Photronics, Inc. will post 2.08 earnings per share for the current fiscal year.

Photronics 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.