Yousif Capital Management LLC Decreases Stake in Photronics, Inc. (NASDAQ:PLAB)

Yousif Capital Management LLC decreased its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 12.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,927 shares of the semiconductor company’s stock after selling 4,325 shares during the quarter. Yousif Capital Management LLC’s holdings in Photronics were worth $970,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Photronics by 3.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,321,531 shares of the semiconductor company’s stock valued at $107,548,000 after acquiring an additional 186,718 shares in the last quarter. LSV Asset Management raised its position in shares of Photronics by 88.3% during the 3rd quarter. LSV Asset Management now owns 1,560,215 shares of the semiconductor company’s stock worth $31,532,000 after purchasing an additional 731,793 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Photronics by 64.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,397,983 shares of the semiconductor company’s stock valued at $43,855,000 after buying an additional 547,510 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Photronics by 0.4% during the third quarter. Northern Trust Corp now owns 1,115,690 shares of the semiconductor company’s stock valued at $22,548,000 after acquiring an additional 4,222 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Photronics by 18.3% during the third quarter. American Century Companies Inc. now owns 1,029,747 shares of the semiconductor company’s stock worth $20,811,000 after buying an additional 159,393 shares in the last quarter. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

Photronics Trading Up 2.3 %

Shares of Photronics stock opened at $28.78 on Friday. The stock has a market capitalization of $1.82 billion, a P/E ratio of 12.91 and a beta of 1.41. The business’s fifty day moving average price is $28.16 and its 200 day moving average price is $26.83. Photronics, Inc. has a twelve month low of $14.15 and a twelve month high of $34.16.

Photronics (NASDAQ:PLAB) last posted 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). Photronics had a return on equity of 10.37% and a net margin of 15.34%. The business had revenue of $216.30 million for the quarter, compared to analyst estimates of $220.00 million. During the same period last year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts predict that Photronics, Inc. will post 2.15 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Photronics from a “strong-buy” rating to a “buy” rating in a research report 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.