Photronics, Inc. (PLAB) Stake Reduced by UBS Group AG

UBS Group AG decreased its stake in Photronics, Inc. (NASDAQ:PLAB) by 10.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 107,420 shares of the semiconductor company’s stock after selling 12,942 shares during the period. UBS Group AG owned approximately 0.16% of Photronics worth $1,149,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. NorthCoast Asset Management LLC raised its stake in shares of Photronics by 17.2% in the first quarter. NorthCoast Asset Management LLC now owns 64,696 shares of the semiconductor company’s stock valued at $692,000 after buying an additional 9,477 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Photronics by 9.6% in the first quarter. Geode Capital Management LLC now owns 1,177,240 shares of the semiconductor company’s stock valued at $12,596,000 after buying an additional 103,589 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Photronics by 5.3% in the first quarter. Vanguard Group Inc. now owns 2,860,720 shares of the semiconductor company’s stock valued at $30,609,000 after buying an additional 144,092 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 valued at $448,000 after buying an additional 2,104 shares in the last quarter. Finally, Donald Smith & CO. Inc. raised its stake in shares of Photronics by 8.7% in 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 buying an additional 354,031 shares in the last quarter. Hedge funds and other institutional investors own 97.81% of the company’s stock.

Shares of Photronics, Inc. (NASDAQ PLAB) opened at 10.15 on Tuesday. The firm has a market capitalization of $699.05 million, a price-to-earnings ratio of 40.93 and a beta of 0.47. Photronics, Inc. has a 52 week low of $8.20 and a 52 week high of $12.10. The firm’s 50-day moving average price is $10.21 and its 200 day moving average price is $10.92.

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

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Several equities research analysts have commented on the company. BidaskClub upgraded Photronics from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a research note on Thursday, April 6th. Finally, ValuEngine upgraded Photronics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Photronics presently has an average rating of “Hold” and an average target price of $12.83.

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.

Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

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