Barrow Hanley Mewhinney & Strauss LLC Lowers Holdings in Photronics, Inc. (PLAB)

Barrow Hanley Mewhinney & Strauss LLC reduced its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,577,149 shares of the semiconductor company’s stock after selling 166,725 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned approximately 6.64% of Photronics worth $40,507,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Bank of America Corp DE boosted its holdings 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 valued at $593,000 after acquiring an additional 271 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Photronics by 4.5% in the second quarter. Legal & General Group Plc now owns 15,818 shares of the semiconductor company’s stock valued at $149,000 after acquiring an additional 679 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Photronics by 5.1% in the second quarter. Principal Financial Group Inc. now owns 14,915 shares of the semiconductor company’s stock valued at $140,000 after acquiring an additional 720 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in shares of Photronics by 5.7% in the second quarter. Engineers Gate Manager LP now owns 27,627 shares of the semiconductor company’s stock valued at $260,000 after acquiring an additional 1,481 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Photronics by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 52,194 shares of the semiconductor company’s stock valued at $491,000 after acquiring an additional 1,579 shares in the last quarter. 94.71% of the stock is currently owned by institutional investors.

Shares of Photronics, Inc. (NASDAQ:PLAB) opened at $8.70 on Friday. 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, Inc. has a 52 week low of $7.55 and a 52 week high of $12.10. The company has a market cap of $599.77, a PE ratio of 43.50, a P/E/G ratio of 2.17 and a beta of 0.53.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, November 29th. The semiconductor company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $112.17 million. During the same quarter last year, the business earned $0.05 earnings per share. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. research analysts forecast that Photronics, Inc. will post 0.4 EPS for the current fiscal year.

Several brokerages have recently weighed in on PLAB. BidaskClub downgraded shares of Photronics from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Zacks Investment Research downgraded shares of Photronics from a “hold” rating to a “strong sell” rating in a report on Saturday, December 2nd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $13.00 target price on shares of Photronics in a report on Monday, November 27th.

In other Photronics news, VP Christopher J. Progler sold 4,000 shares of Photronics stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $8.85, for a total transaction of $35,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richelle E. Burr sold 3,000 shares of Photronics stock in a transaction dated 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 owns 45,109 shares of the company’s stock, valued at approximately $405,981. The disclosure for this sale can be found here. Insiders sold 90,000 shares of company stock valued at $834,288 in the last quarter. Company insiders own 3.71% of the company’s stock.

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Photronics 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.

Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

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