Renaissance Technologies LLC Sells 101,446 Shares of Photronics, Inc. $PLAB

Key Points

• Renaissance Technologies cut its Photronics stake by 84.7% in the first quarter, selling 101,446 shares and retaining 18,302 shares worth approximately $740,000. Institutional investors still own 88.38% of the company.
• Photronics reported quarterly earnings and revenue below analyst expectations, with EPS of $0.42 versus $0.53 expected and revenue of $209.94 million versus $216.47 million. Revenue declined slightly year over year, while third-quarter EPS guidance was set at $0.39–$0.45.
• Analyst sentiment remains generally positive, with an average “Buy” rating and a $49.33 price target, but the company faces potential legal and business uncertainty from a securities lawsuit alleging it overstated demand for high-end photomask products.

Renaissance Technologies LLC trimmed its stake in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 84.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,302 shares of the semiconductor company's stock after selling 101,446 shares during the quarter. Renaissance Technologies LLC's holdings in Photronics were worth $740,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in shares of Photronics by 0.3% in the 4th quarter. Russell Investments Group Ltd. now owns 105,784 shares of the semiconductor company's stock worth $3,385,000 after purchasing an additional 306 shares during the period. Parkside Financial Bank & Trust grew its holdings in Photronics by 16.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,624 shares of the semiconductor company's stock valued at $84,000 after purchasing an additional 365 shares during the period. Hantz Financial Services Inc. grew its holdings in Photronics by 29.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,917 shares of the semiconductor company's stock valued at $61,000 after purchasing an additional 432 shares during the period. Franklin Resources Inc. grew its holdings in Photronics by 0.9% during the third quarter. Franklin Resources Inc. now owns 60,900 shares of the semiconductor company's stock valued at $1,398,000 after purchasing an additional 570 shares during the period. Finally, LVZ Inc. increased its position in Photronics by 3.6% in the first quarter. LVZ Inc. now owns 21,966 shares of the semiconductor company's stock worth $888,000 after buying an additional 761 shares during the last quarter. 88.38% of the stock is owned by institutional investors.

Photronics Price Performance

NASDAQ PLAB opened at $33.32 on Friday. The company's 50 day simple moving average is $30.80 and its two-hundred day simple moving average is $37.67. Photronics, Inc. has a 1 year low of $20.05 and a 1 year high of $56.00. The stock has a market capitalization of $1.96 billion, a PE ratio of 12.16 and a beta of 1.38.

Photronics (NASDAQ:PLAB - Get Free Report) last posted its earnings results on Thursday, May 28th. The semiconductor company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.11). Photronics had a return on equity of 7.69% and a net margin of 18.47%.The business had revenue of $209.94 million for the quarter, compared to analysts' expectations of $216.47 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Photronics's quarterly revenue was down .5% compared to the same quarter last year. Photronics has set its Q3 2026 guidance at 0.390-0.450 EPS. On average, research analysts anticipate that Photronics, Inc. will post 1.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Zacks Research downgraded Photronics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 13th. Craig Hallum reaffirmed a "buy" rating on shares of Photronics in a report on Friday, May 29th. Freedom Capital raised shares of Photronics to a "strong-buy" rating in a report on Thursday, July 2nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Photronics in a research report on Friday, July 24th. Finally, Wall Street Zen downgraded shares of Photronics from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $49.33.

Photronics News Summary

Here are the key news stories impacting Photronics this week:

• Neutral Sentiment: Multiple law firms announced that investors who purchased Photronics securities between December 10, 2025, and May 27, 2026 may seek appointment as lead plaintiff in the lawsuit. The deadline is September 4, 2026, although the notices primarily seek investor participation rather than announcing a new company operating development. Rosen Law Firm deadline notice
• Negative Sentiment: The complaint alleges that Photronics misled investors about demand and the outlook for its high-end integrated-circuit photomask products, including claims that customer-demand strength and growth forecasts were overstated. The allegations have not been proven, but the case could create legal costs, potential liability, management distraction, and uncertainty around the company’s business outlook. Hagens Berman investigation notice
• Negative Sentiment: The legal news follows Photronics’ latest quarterly report, which showed adjusted earnings of $0.42 per share versus the $0.53 consensus estimate and revenue of $209.94 million versus expectations of $216.47 million. Revenue declined slightly year over year, while third-quarter earnings guidance of $0.39-$0.45 per share remains below the recent analyst estimate. Together, the earnings shortfall and lawsuit allegations reinforce investor concerns about demand visibility and execution. Robbins LLP lawsuit notice

Photronics Profile

Photronics, Inc is a leading global supplier of photomask products used in the manufacture of integrated circuits, flat panel displays, microelectromechanical systems (MEMS), and advanced packaging applications. Photomasks, also known as reticles, are critical templates that carry the precise circuit patterns required for semiconductor lithography processes. The company offers a comprehensive range of mask solutions, including binary masks, attenuated phase-shift masks, reticles for micro-optics, and specialized products for high‐resolution applications.

Founded in 1969 and headquartered in Brookfield, Connecticut, Photronics has grown through organic expansion and strategic investments in high‐end lithography technology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source