Bank of New York Mellon Corp cut its holdings in Photronics, Inc. (NASDAQ:PLAB) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 849,665 shares of the semiconductor company’s stock after selling 2,872 shares during the period. Bank of New York Mellon Corp owned about 1.27% of Photronics worth $8,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PLAB. Oregon Public Employees Retirement Fund acquired a new stake in shares of Photronics in the fourth quarter valued at approximately $26,000. Founders Capital Management acquired a new stake in shares of Photronics in the fourth quarter valued at approximately $68,000. First Quadrant L P CA acquired a new stake in shares of Photronics in the fourth quarter valued at approximately $77,000. Quantamental Technologies LLC acquired a new stake in shares of Photronics in the fourth quarter valued at approximately $101,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Photronics in the third quarter valued at approximately $113,000. Institutional investors own 95.38% of the company’s stock.

Several equities analysts recently weighed in on PLAB shares. ValuEngine raised shares of Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, December 15th. BidaskClub cut shares of Photronics from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. Zacks Investment Research cut shares of Photronics from a “hold” rating to a “sell” rating in a research note on Tuesday, January 1st. Finally, TheStreet cut shares of Photronics from a “b-” rating to a “c” rating in a research note on Friday, February 22nd. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Photronics presently has an average rating of “Hold” and a consensus price target of $11.00.

In other news, Director Walter M. Fiederowicz sold 21,000 shares of the business’s stock in a transaction dated Monday, January 14th. The shares were sold at an average price of $10.32, for a total value of $216,720.00. Following the completion of the sale, the director now owns 27,000 shares of the company’s stock, valued at $278,640. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher J. Progler sold 5,600 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $10.67, for a total transaction of $59,752.00. Following the completion of the sale, the vice president now directly owns 118,025 shares of the company’s stock, valued at approximately $1,259,326.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,043 shares of company stock valued at $529,074. Company insiders own 3.58% of the company’s stock.

PLAB stock opened at $9.55 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 2.19. Photronics, Inc. has a one year low of $7.60 and a one year high of $11.58. The firm has a market cap of $640.34 million, a price-to-earnings ratio of 16.47, a P/E/G ratio of 2.39 and a beta of 0.53.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Thursday, February 21st. The semiconductor company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.03. Photronics had a net margin of 7.72% and a return on equity of 4.32%. The firm had revenue of $124.71 million during the quarter, compared to analysts’ expectations of $125.10 million. During the same period in the previous year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Photronics, Inc. will post 0.4 earnings per share for the current fiscal year.

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Photronics Profile

Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz or glass plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.

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Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

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