Trust Investment Advisors cut its position in Photronics, Inc. (NASDAQ:PLAB) by 5.6% during the second quarter, Holdings Channel reports. The institutional investor owned 42,050 shares of the semiconductor company’s stock after selling 2,500 shares during the period. Trust Investment Advisors’ holdings in Photronics were worth $395,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of Photronics by 0.5% in the first quarter. Bank of America Corp DE now owns 55,456 shares of the semiconductor company’s stock worth $593,000 after buying an additional 271 shares in the last quarter. Adams Diversified Equity Fund Inc. raised its stake in shares of Photronics by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 61,900 shares of the semiconductor company’s stock worth $662,000 after buying an additional 1,700 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Photronics by 4.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 44,589 shares of the semiconductor company’s stock worth $477,000 after buying an additional 1,987 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Photronics by 5.3% in the first quarter. PNC Financial Services Group Inc. now owns 41,820 shares of the semiconductor company’s stock worth $448,000 after buying an additional 2,104 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Photronics by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 106,153 shares of the semiconductor company’s stock worth $1,200,000 after buying an additional 2,560 shares in the last quarter. 97.86% of the stock is owned by institutional investors.

Shares of Photronics, Inc. (PLAB) opened at 9.85 on Monday. The company’s 50-day moving average is $9.88 and its 200 day moving average is $10.69. Photronics, Inc. has a 1-year low of $8.20 and a 1-year high of $12.10. The firm has a market capitalization of $678.39 million, a price-to-earnings ratio of 39.72 and a beta of 0.48.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings data on Wednesday, May 17th. The semiconductor company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by $0.02. Photronics had a net margin of 3.81% and a return on equity of 1.84%. The company had revenue of $108.30 million during the quarter, compared to analyst estimates of $111.16 million. During the same quarter in the previous year, the business posted $0.13 EPS. The company’s revenue was down 11.9% compared to the same quarter last year. On average, analysts expect that Photronics, Inc. will post $0.28 EPS for the current fiscal year.

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A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Photronics from a “hold” rating to a “sell” rating in a research note on Friday, May 19th. BidaskClub raised shares of Photronics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, ValuEngine raised shares of Photronics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Photronics has a consensus rating of “Hold” and a consensus price target of $12.83.

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

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.

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Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

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