Hussman Strategic Advisors Inc. Sells 41,000 Shares of Photronics, Inc. (NASDAQ:PLAB)

Hussman Strategic Advisors Inc. cut its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 66.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,000 shares of the semiconductor company’s stock after selling 41,000 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Photronics were worth $659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLAB. US Bancorp DE boosted its stake in Photronics by 201.5% during the second quarter. US Bancorp DE now owns 1,022 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 683 shares in the last quarter. Orion Capital Management LLC purchased a new position in shares of Photronics during the third quarter valued at approximately $28,000. Tower Research Capital LLC TRC boosted its position in shares of Photronics by 49.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,761 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 582 shares in the last quarter. Covestor Ltd grew its stake in shares of Photronics by 587.5% in the 1st quarter. Covestor Ltd now owns 2,427 shares of the semiconductor company’s stock worth $41,000 after buying an additional 2,074 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in Photronics by 77.5% during the 1st quarter. Federated Hermes Inc. now owns 2,798 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 1,222 shares in the last quarter. 88.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Photronics from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 22nd.

Photronics Stock Performance

Shares of PLAB stock opened at $25.32 on Monday. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 11.35 and a beta of 1.40. Photronics, Inc. has a one year low of $13.86 and a one year high of $34.16. The company’s 50-day moving average is $28.87 and its 200 day moving average is $26.38.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Photronics had a net margin of 15.34% and a return on equity of 10.37%. The firm had revenue of $216.30 million for the quarter, compared to analysts’ expectations of $220.00 million. During the same quarter in the previous year, the company earned $0.40 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, research analysts predict that Photronics, Inc. will post 2.15 earnings per share for the current fiscal year.

Photronics Company Profile

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates.