California Public Employees Retirement System boosted its stake in Photronics, Inc. (NASDAQ:PLAB) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 744,108 shares of the semiconductor company’s stock after acquiring an additional 23,908 shares during the quarter. California Public Employees Retirement System owned about 1.08% of Photronics worth $6,585,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. boosted its stake in shares of Photronics by 18.8% during the 2nd quarter. Donald Smith & CO. Inc. now owns 5,267,874 shares of the semiconductor company’s stock valued at $49,518,000 after buying an additional 835,254 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Photronics by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,952,069 shares of the semiconductor company’s stock valued at $27,750,000 after buying an additional 91,349 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Photronics by 10.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,190,402 shares of the semiconductor company’s stock valued at $19,386,000 after buying an additional 203,240 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Photronics by 24.1% during the 2nd quarter. Alliancebernstein L.P. now owns 2,135,442 shares of the semiconductor company’s stock valued at $20,073,000 after buying an additional 414,930 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Photronics by 1.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,023,000 shares of the semiconductor company’s stock valued at $19,016,000 after buying an additional 23,200 shares during the last quarter. Hedge funds and other institutional investors own 94.49% of the company’s stock.

In related news, VP Richelle E. Burr sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $9.00, for a total transaction of $27,000.00. Following the transaction, the vice president now directly owns 45,109 shares in the company, valued at $405,981. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sean T. Smith sold 18,750 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $9.48, for a total value of $177,750.00. Following the transaction, the chief financial officer now owns 159,108 shares in the company, valued at $1,508,343.84. The disclosure for this sale can be found here. Insiders have sold 67,250 shares of company stock worth $626,575 over the last 90 days. 3.71% of the stock is currently owned by company insiders.

PLAB has been the subject of several research analyst reports. Zacks Investment Research cut Photronics from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 2nd. BidaskClub cut Photronics from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, DA Davidson reiterated a “buy” rating and set a $13.00 target price on shares of Photronics in a research note on Monday, November 27th.

Photronics, Inc. (NASDAQ PLAB) opened at $8.65 on Thursday. The company has a market capitalization of $593.85, a P/E ratio of 45.53, a PEG ratio of 2.13 and a beta of 0.55. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.20 and a current ratio of 5.49. Photronics, Inc. has a one year low of $7.55 and a one year high of $11.95.

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

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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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