Photronics, Inc. (NASDAQ:PLAB) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,089 shares of the semiconductor company’s stock after selling 644 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Photronics were worth $545,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. ICA Group Wealth Management LLC purchased a new position in Photronics during the 4th quarter worth $25,000. Principal Securities Inc. acquired a new position in shares of Photronics during the fourth quarter worth about $57,000. Innealta Capital LLC purchased a new position in Photronics during the second quarter worth about $75,000. CWM LLC lifted its position in Photronics by 155.2% in the second quarter. CWM LLC now owns 3,294 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 2,003 shares during the period. Finally, Quest Partners LLC purchased a new stake in Photronics in the 4th quarter valued at approximately $91,000. 88.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded Photronics from a “buy” rating to a “hold” rating in a research note on Monday.

Photronics Stock Performance

NASDAQ:PLAB opened at $25.86 on Tuesday. Photronics, Inc. has a 1 year low of $18.03 and a 1 year high of $34.16. The stock has a fifty day moving average price of $24.58 and a two-hundred day moving average price of $26.67. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 11.97 and a beta of 1.38.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The company had revenue of $211.00 million during the quarter, compared to analysts’ expectations of $225.00 million. Photronics had a net margin of 16.22% and a return on equity of 9.46%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. On average, analysts predict that Photronics, Inc. will post 2.08 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.