Engineers Gate Manager LP Sells 132,299 Shares of Photronics, Inc. (NASDAQ:PLAB)

Engineers Gate Manager LP cut its holdings in Photronics, Inc. (NASDAQ:PLAB – Get Rating) by 84.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,710 shares of the semiconductor company’s stock after selling 132,299 shares during the quarter. Engineers Gate Manager LP’s holdings in Photronics were worth $361,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of Photronics by 2.1% in the 3rd quarter. BlackRock Inc. now owns 10,238,591 shares of the semiconductor company’s stock worth $149,689,000 after purchasing an additional 208,239 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Photronics by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 4,362,274 shares of the semiconductor company’s stock worth $74,028,000 after buying an additional 122,925 shares during the period. State Street Corp grew its position in shares of Photronics by 1.3% during the 2nd quarter. State Street Corp now owns 2,172,450 shares of the semiconductor company’s stock worth $42,319,000 after buying an additional 27,683 shares during the period. Prudential Financial Inc. increased its stake in shares of Photronics by 48.4% in the 3rd quarter. Prudential Financial Inc. now owns 1,473,074 shares of the semiconductor company’s stock valued at $21,536,000 after acquiring an additional 480,125 shares during the last quarter. Finally, Royce & Associates LP raised its position in shares of Photronics by 2.6% in the 3rd quarter. Royce & Associates LP now owns 936,079 shares of the semiconductor company’s stock valued at $13,685,000 after acquiring an additional 24,058 shares during the period. Institutional investors and hedge funds own 90.41% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Photronics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 31st.

Insider Activity at Photronics

In other Photronics news, Director Mitchell G. Tyson sold 2,000 shares of the stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $17.33, for a total transaction of $34,660.00. Following the completion of the transaction, the director now owns 56,379 shares in the company, valued at approximately $977,048.07. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.31% of the stock is currently owned by insiders.

Photronics Stock Down 3.0 %

Shares of Photronics stock opened at $16.15 on Tuesday. Photronics, Inc. has a 1 year low of $13.87 and a 1 year high of $25.81. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.52 and a quick ratio of 3.25. The company has a market capitalization of $1.01 billion, a P/E ratio of 8.83 and a beta of 1.19. The business has a 50-day moving average of $17.93 and a two-hundred day moving average of $17.16.

Photronics (NASDAQ:PLAB – Get Rating) last posted its earnings results on Monday, February 20th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. Photronics had a return on equity of 11.20% and a net margin of 13.26%. The business had revenue of $211.09 million during the quarter, compared to analysts’ expectations of $194.00 million. During the same period in the prior year, the business earned $0.38 EPS. As a group, equities analysts predict that Photronics, Inc. will post 1.82 EPS for the current year.

Photronics Profile

(Get Rating)

Photronics, Inc engages in the provision of photomasks. It manufactures semiconductors and flat-panel displays and is used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during the fabrication of integrated circuits, a variety of FPDs and other types of electrical and optical components.