Teachers Advisors LLC grew its holdings in Photronics, Inc. (NASDAQ:PLAB) by 8.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 120,220 shares of the semiconductor company’s stock after buying an additional 9,489 shares during the quarter. Teachers Advisors LLC owned 0.17% of Photronics worth $1,130,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Photronics by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 2,860,720 shares of the semiconductor company’s stock valued at $30,609,000 after buying an additional 144,092 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Photronics by 24.1% in the 2nd quarter. Alliancebernstein L.P. now owns 2,135,442 shares of the semiconductor company’s stock valued at $20,073,000 after buying an additional 414,930 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Photronics by 10.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,987,162 shares of the semiconductor company’s stock valued at $18,679,000 after buying an additional 183,533 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Photronics by 1,665.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,766,054 shares of the semiconductor company’s stock valued at $16,601,000 after buying an additional 1,666,037 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Photronics by 3.8% in the 1st quarter. State Street Corp now owns 1,389,571 shares of the semiconductor company’s stock valued at $14,867,000 after buying an additional 50,294 shares in the last quarter. Institutional investors own 96.04% of the company’s stock.
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Shares of Photronics, Inc. (NASDAQ:PLAB) opened at 9.70 on Wednesday. The company has a market cap of $668.70 million, a price-to-earnings ratio of 51.32 and a beta of 0.58. The stock has a 50 day moving average of $8.85 and a 200 day moving average of $9.60. Photronics, Inc. has a 12-month low of $7.55 and a 12-month high of $12.10.
Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Monday, August 14th. The semiconductor company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). The company had revenue of $111.60 million during the quarter, compared to analyst estimates of $115.14 million. Photronics had a net margin of 2.97% and a return on equity of 1.33%. During the same period last year, the firm earned $0.12 EPS. On average, equities analysts expect that Photronics, Inc. will post $0.22 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on PLAB. BidaskClub upgraded shares of Photronics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Zacks Investment Research lowered shares of Photronics from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold”.
In related news, VP Christopher J. Progler sold 4,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $8.85, for a total value of $35,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean T. Smith sold 18,750 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $9.19, for a total value of $172,312.50. The disclosure for this sale can be found here. 3.71% of the stock is owned by insiders.
Photronics Company Profile
Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. As of October 30, 2016, the Company operated principally from nine manufacturing facilities: two located in Europe, three in Taiwan, one in Korea and three in the United States.
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