Engineers Gate Manager LP Has $361,000 Stock Holdings in Photronics, Inc. (NASDAQ:PLAB)

Engineers Gate Manager LP reduced its position in shares of Photronics, Inc. (NASDAQ:PLAB – Get Rating) by 84.3% in the 3rd quarter, Holdings Channel reports. The firm owned 24,710 shares of the semiconductor company’s stock after selling 132,299 shares during the period. Engineers Gate Manager LP’s holdings in Photronics were worth $361,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CWM LLC lifted its position in shares of Photronics by 81.1% during the 3rd quarter. CWM LLC now owns 1,849 shares of the semiconductor company’s stock worth $27,000 after buying an additional 828 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Photronics during the 3rd quarter valued at approximately $34,000. Covestor Ltd increased its position in Photronics by 587.5% during the 1st quarter. Covestor Ltd now owns 2,427 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 2,074 shares in the last quarter. Federated Hermes Inc. lifted its stake in Photronics by 77.5% in the 1st quarter. Federated Hermes Inc. now owns 2,798 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 1,222 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Photronics in the first quarter valued at approximately $59,000. 90.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Photronics

In other news, Director Mitchell G. Tyson sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $17.33, for a total transaction of $34,660.00. Following the completion of the transaction, the director now directly owns 56,379 shares in the company, valued at $977,048.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.31% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Photronics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 31st.

Photronics Stock Down 3.0 %

Shares of NASDAQ PLAB opened at $16.15 on Tuesday. Photronics, Inc. has a 1 year low of $13.87 and a 1 year high of $25.81. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.52 and a quick ratio of 3.25. The firm has a market cap of $1.01 billion, a PE ratio of 8.83 and a beta of 1.19. The company has a 50 day simple moving average of $17.93 and a 200 day simple moving average of $17.16.

Photronics (NASDAQ:PLAB – Get Rating) last issued its quarterly earnings results on Monday, February 20th. The semiconductor company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The company had revenue of $211.09 million for the quarter, compared to analyst estimates of $194.00 million. Photronics had a net margin of 13.26% and a return on equity of 11.20%. During the same quarter in the previous year, the business earned $0.38 earnings per share. On average, research analysts forecast that Photronics, Inc. will post 1.82 EPS for the current year.

Photronics Company Profile

(Get Rating)

Photronics, Inc engages in the provision of photomasks. It manufactures semiconductors and flat-panel displays and is used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during the fabrication of integrated circuits, a variety of FPDs and other types of electrical and optical components.