Photronics, Inc. (NASDAQ:PLAB) Stake Lessened by LSV Asset Management

LSV Asset Management trimmed its holdings in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,507,915 shares of the semiconductor company's stock after selling 52,300 shares during the period. LSV Asset Management owned approximately 2.41% of Photronics worth $47,303,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Photronics by 306.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,680 shares of the semiconductor company's stock valued at $762,000 after purchasing an additional 28,418 shares during the last quarter. Strs Ohio boosted its stake in shares of Photronics by 12.3% in the third quarter. Strs Ohio now owns 37,400 shares of the semiconductor company's stock worth $755,000 after buying an additional 4,100 shares during the last quarter. Inspire Advisors LLC acquired a new stake in Photronics during the third quarter worth about $338,000. Watershed Asset Management L.L.C. purchased a new position in Photronics during the third quarter valued at approximately $258,000. Finally, Kendall Capital Management lifted its holdings in Photronics by 17.0% in the third quarter. Kendall Capital Management now owns 37,540 shares of the semiconductor company's stock valued at $759,000 after acquiring an additional 5,460 shares during the period. 88.38% of the stock is owned by hedge funds and other institutional investors.

Photronics Trading Up 2.3 %

PLAB traded up $0.64 during trading on Friday, hitting $28.78. The company's stock had a trading volume of 350,378 shares, compared to its average volume of 314,967. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 12.91 and a beta of 1.41. Photronics, Inc. has a twelve month low of $14.15 and a twelve month high of $34.16. The business's fifty day simple moving average is $28.16 and its 200 day simple moving average is $26.88.

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

Wall Street Analysts Forecast Growth

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

About Photronics

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.