Shell Asset Management Co. maintained its position in shares of Photronics, Inc. (NASDAQ:PLAB) during the second quarter, Holdings Channel reports. The institutional investor owned 97,882 shares of the semiconductor company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Photronics were worth $920,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLAB. Donald Smith & CO. Inc. raised its position in shares of Photronics by 8.7% in the first quarter. Donald Smith & CO. Inc. now owns 4,432,620 shares of the semiconductor company’s stock valued at $47,429,000 after buying an additional 354,031 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Photronics by 5.3% in the first quarter. Vanguard Group Inc. now owns 2,860,720 shares of the semiconductor company’s stock valued at $30,609,000 after buying an additional 144,092 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Photronics by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 1,803,629 shares of the semiconductor company’s stock valued at $19,300,000 after buying an additional 45,821 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Photronics by 11.8% in the first quarter. Alliancebernstein L.P. now owns 1,720,512 shares of the semiconductor company’s stock valued at $18,409,000 after buying an additional 181,550 shares during the last quarter. Finally, State Street Corp raised its position in shares of Photronics by 3.8% in the first quarter. State Street Corp now owns 1,389,571 shares of the semiconductor company’s stock valued at $14,867,000 after buying an additional 50,294 shares during the last quarter. Institutional investors own 97.86% of the company’s stock.

Shares of Photronics, Inc. (NASDAQ PLAB) opened at 9.70 on Thursday. Photronics, Inc. has a one year low of $8.20 and a one year high of $12.10. The company has a market cap of $668.06 million, a P/E ratio of 39.11 and a beta of 0.48. The company has a 50 day moving average price of $9.84 and a 200 day moving average price of $10.63.

Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Wednesday, May 17th. The semiconductor company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.02. The business had revenue of $108.30 million for the quarter, compared to the consensus estimate of $111.16 million. Photronics had a return on equity of 1.84% and a net margin of 3.81%. The firm’s revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.13 earnings per share. Equities research analysts expect that Photronics, Inc. will post $0.28 earnings per share for the current year.

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Several analysts recently issued reports on the company. Zacks Investment Research downgraded Photronics from a “hold” rating to a “sell” rating in a report on Friday, May 19th. BidaskClub raised Photronics from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, ValuEngine raised Photronics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $12.83.

In other Photronics news, VP Christopher J. Progler sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $10.05, for a total transaction of $40,200.00. Following the transaction, the vice president now owns 78,900 shares of the company’s stock, valued at approximately $792,945. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.71% of the stock is owned by corporate insiders.

Photronics Company Profile

Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. As of October 30, 2016, the Company operated principally from nine manufacturing facilities: two located in Europe, three in Taiwan, one in Korea and three in the United States.

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Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

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