Bank of New York Mellon Corp grew its position in Photronics, Inc. (NASDAQ:PLAB) by 10.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,190,402 shares of the semiconductor company’s stock after purchasing an additional 203,240 shares during the quarter. Bank of New York Mellon Corp owned about 3.18% of Photronics worth $19,386,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLAB. Boston Partners purchased a new stake in shares of Photronics during the third quarter valued at $1,118,000. Wedge Capital Management L L P NC grew its holdings in shares of Photronics by 4,703.6% during the third quarter. Wedge Capital Management L L P NC now owns 1,444,626 shares of the semiconductor company’s stock valued at $12,785,000 after buying an additional 1,414,552 shares during the last quarter. Foundry Partners LLC grew its holdings in shares of Photronics by 4.9% during the third quarter. Foundry Partners LLC now owns 470,675 shares of the semiconductor company’s stock valued at $4,165,000 after buying an additional 21,950 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Photronics during the third quarter valued at $114,000. Finally, Palouse Capital Management Inc. grew its holdings in shares of Photronics by 118.1% during the third quarter. Palouse Capital Management Inc. now owns 33,458 shares of the semiconductor company’s stock valued at $296,000 after buying an additional 18,115 shares during the last quarter. 94.71% of the stock is currently owned by institutional investors and hedge funds.

PLAB has been the topic of a number of research analyst reports. DA Davidson reissued a “buy” rating and set a $13.00 price objective on shares of Photronics in a report on Monday, November 27th. Zacks Investment Research lowered shares of Photronics from a “hold” rating to a “strong sell” rating in a report on Saturday, December 2nd. Finally, BidaskClub lowered shares of Photronics from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th.

Photronics, Inc. (PLAB) opened at $8.70 on Friday. The stock has a market cap of $599.77, a price-to-earnings ratio of 43.50, a P/E/G ratio of 2.17 and a beta of 0.53. Photronics, Inc. has a 1 year low of $7.55 and a 1 year high of $12.10. The company has a current ratio of 5.49, a quick ratio of 5.20 and a debt-to-equity ratio of 0.07.

Photronics (NASDAQ:PLAB) last posted its earnings results on Wednesday, November 29th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $121.00 million during the quarter, compared to the consensus estimate of $112.17 million. Photronics had a net margin of 2.91% and a return on equity of 1.55%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 earnings per share. equities analysts anticipate that Photronics, Inc. will post 0.4 EPS for the current fiscal year.

In other Photronics news, VP Christopher J. Progler sold 4,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $9.55, for a total value of $38,200.00. Following the completion of the transaction, the vice president now owns 78,900 shares in the company, valued at $753,495. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Sean T. Smith sold 12,500 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $9.43, for a total transaction of $117,875.00. Following the completion of the transaction, the senior vice president now owns 152,858 shares of the company’s stock, valued at approximately $1,441,450.94. The disclosure for this sale can be found here. Insiders have sold 90,000 shares of company stock valued at $834,288 over the last 90 days. 3.71% of the stock is currently owned by insiders.

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About Photronics

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.

Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

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