LSV Asset Management cut its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 7.5% during the 4th quarter, HoldingsChannel reports. The fund owned 890,090 shares of the semiconductor company’s stock after selling 71,654 shares during the period. LSV Asset Management’s holdings in Photronics were worth $7,588,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLAB. Wedge Capital Management L L P NC boosted its stake in 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 worth $12,785,000 after acquiring an additional 1,414,552 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Photronics by 106.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 842,037 shares of the semiconductor company’s stock worth $7,178,000 after acquiring an additional 434,174 shares in the last quarter. Northern Trust Corp boosted its stake in Photronics by 30.9% during the second quarter. Northern Trust Corp now owns 1,645,280 shares of the semiconductor company’s stock worth $15,466,000 after acquiring an additional 388,133 shares in the last quarter. Citadel Advisors LLC boosted its stake in Photronics by 284.7% during the third quarter. Citadel Advisors LLC now owns 500,173 shares of the semiconductor company’s stock worth $4,427,000 after acquiring an additional 370,149 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Photronics by 16,929.7% during the third quarter. JPMorgan Chase & Co. now owns 275,371 shares of the semiconductor company’s stock worth $2,300,000 after acquiring an additional 273,754 shares in the last quarter. 94.51% of the stock is currently owned by institutional investors and hedge funds.

Photronics, Inc. (NASDAQ PLAB) opened at $7.50 on Monday. Photronics, Inc. has a 12 month low of $7.20 and a 12 month high of $11.80. The firm has a market cap of $517.90, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 1.88 and a beta of 0.52. The company has a quick ratio of 5.20, a current ratio of 5.49 and a debt-to-equity ratio of 0.07.

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

In related news, VP Christopher J. Progler sold 4,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $9.55, for a total transaction of $38,200.00. Following the transaction, the vice president now directly owns 78,900 shares of the company’s stock, valued at $753,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sean T. Smith sold 25,000 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $9.19, for a total transaction of $229,750.00. Following the transaction, the senior vice president now directly owns 165,358 shares in the company, valued at $1,519,640.02. The disclosure for this sale can be found here. Insiders sold 49,040 shares of company stock worth $452,165 over the last ninety days. Insiders own 3.71% of the company’s stock.

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

ILLEGAL ACTIVITY NOTICE: This news story was first posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this news story on another publication, it was illegally copied and reposted in violation of United States & international trademark and copyright laws. The legal version of this news story can be viewed at https://theolympiareport.com/2018/02/12/photronics-inc-plab-shares-sold-by-lsv-asset-management.html.

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.

Want to see what other hedge funds are holding PLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Photronics, Inc. (NASDAQ:PLAB).

Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

Receive News & Ratings for Photronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Photronics and related companies with MarketBeat.com's FREE daily email newsletter.