Hussman Strategic Advisors Inc. Reduces Holdings in Photronics, Inc. (NASDAQ:PLAB)

Hussman Strategic Advisors Inc. cut its stake in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 66.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,000 shares of the semiconductor company's stock after selling 41,000 shares during the quarter. Hussman Strategic Advisors Inc.'s holdings in Photronics were worth $659,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PLAB. Orion Capital Management LLC bought a new position in shares of Photronics in the 3rd quarter worth about $28,000. Spire Wealth Management bought a new position in shares of Photronics in the 3rd quarter worth about $63,000. Mendota Financial Group LLC increased its stake in shares of Photronics by 20.8% in the 4th quarter. Mendota Financial Group LLC now owns 6,125 shares of the semiconductor company's stock worth $192,000 after acquiring an additional 1,053 shares in the last quarter. Arlington Trust Co LLC bought a new position in shares of Photronics in the 4th quarter worth about $205,000. Finally, Lbmc Investment Advisors LLC bought a new position in shares of Photronics in the 4th quarter worth about $210,000. 88.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Photronics from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 22nd.

Photronics Stock Performance

Shares of Photronics stock traded up $0.36 during trading on Monday, hitting $25.68. The company's stock had a trading volume of 323,274 shares, compared to its average volume of 563,750. The company has a fifty day simple moving average of $28.72 and a two-hundred day simple moving average of $26.42. The company has a market capitalization of $1.63 billion, a PE ratio of 11.52 and a beta of 1.40. Photronics, Inc. has a 52 week low of $13.86 and a 52 week high of $34.16.

Photronics (NASDAQ:PLAB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Photronics had a net margin of 15.34% and a return on equity of 10.37%. The firm had revenue of $216.30 million for the quarter, compared to analysts' expectations of $220.00 million. During the same period last year, the company posted $0.40 earnings per share. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, analysts predict that Photronics, Inc. will post 2.15 EPS 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.