Wedge Capital Management L L P NC trimmed its position in Photronics, Inc. (NASDAQ:PLAB – Free Report) by 22.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,570 shares of the semiconductor company’s stock after selling 68,973 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.39% of Photronics worth $7,609,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. RWA Wealth Partners LLC purchased a new stake in shares of Photronics in the fourth quarter worth about $289,000. Foundry Partners LLC raised its stake in Photronics by 6.9% in the fourth quarter. Foundry Partners LLC now owns 255,884 shares of the semiconductor company’s stock valued at $8,027,000 after purchasing an additional 16,430 shares in the last quarter. Carmel Capital Partners LLC raised its stake in Photronics by 815.9% in the fourth quarter. Carmel Capital Partners LLC now owns 9,663 shares of the semiconductor company’s stock valued at $303,000 after purchasing an additional 8,608 shares in the last quarter. RIA Advisory Group LLC purchased a new stake in Photronics in the fourth quarter valued at approximately $218,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in Photronics in the fourth quarter valued at approximately $248,000. 88.38% of the stock is owned by hedge funds and other institutional investors.
Photronics Price Performance
Shares of NASDAQ PLAB opened at $26.96 on Wednesday. Photronics, Inc. has a one year low of $13.86 and a one year high of $34.16. The firm’s 50 day simple moving average is $28.63 and its two-hundred day simple moving average is $26.46. The stock has a market capitalization of $1.71 billion, a P/E ratio of 12.09 and a beta of 1.40.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded shares of Photronics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 22nd.
Get Our Latest Report on Photronics
Photronics 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.
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