Franklin Resources Inc. lessened its stake in Photronics, Inc. (NASDAQ:PLAB) by 17.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,852,411 shares of the semiconductor company’s stock after selling 1,045,700 shares during the quarter. Franklin Resources Inc. owned approximately 7.05% of Photronics worth $45,613,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Donald Smith & CO. Inc. increased its position in shares of Photronics by 8.7% during 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 acquiring an additional 354,031 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Photronics by 5.3% during the first quarter. Vanguard Group Inc. now owns 2,860,720 shares of the semiconductor company’s stock valued at $30,609,000 after acquiring an additional 144,092 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Photronics by 10.2% during the second quarter. Bank of New York Mellon Corp now owns 1,987,162 shares of the semiconductor company’s stock valued at $18,679,000 after acquiring an additional 183,533 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Photronics by 1,665.8% during the second quarter. Victory Capital Management Inc. now owns 1,766,054 shares of the semiconductor company’s stock valued at $16,601,000 after acquiring an additional 1,666,037 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Photronics by 11.8% during the first quarter. Alliancebernstein L.P. now owns 1,720,512 shares of the semiconductor company’s stock valued at $18,409,000 after acquiring an additional 181,550 shares during the last quarter. 96.09% of the stock is owned by institutional investors.

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In related news, VP Christopher J. Progler sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $10.05, for a total value of $40,200.00. Following the transaction, the vice president now directly owns 78,900 shares of the company’s stock, valued at approximately $792,945. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.71% of the company’s stock.

Shares of Photronics, Inc. (NASDAQ PLAB) opened at 8.00 on Friday. The company’s 50 day moving average price is $8.53 and its 200-day moving average price is $10.02. Photronics, Inc. has a 12 month low of $7.55 and a 12 month high of $12.10. The stock has a market capitalization of $548.20 million, a P/E ratio of 42.11 and a beta of 0.52.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Monday, August 14th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $111.60 million during the quarter, compared to the consensus estimate of $115.14 million. Photronics had a net margin of 2.97% and a return on equity of 1.33%. During the same period last year, the company posted $0.12 earnings per share. Equities analysts predict that Photronics, Inc. will post $0.19 earnings per share for the current year.

A number of brokerages recently commented on PLAB. Zacks Investment Research raised Photronics from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. BidaskClub downgraded Photronics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Finally, ValuEngine raised Photronics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $12.00.

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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