Los Angeles Capital Management LLC Sells 20,027 Shares of Photronics, Inc. (NASDAQ:PLAB)

Los Angeles Capital Management LLC trimmed its stake in Photronics, Inc. (NASDAQ:PLAB) by 18.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,993 shares of the semiconductor company’s stock after selling 20,027 shares during the period. Los Angeles Capital Management LLC’s holdings in Photronics were worth $2,698,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust grew its holdings in Photronics by 571.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 897 shares during the last quarter. GAMMA Investing LLC purchased a new position in Photronics during the 4th quarter worth $40,000. Orion Capital Management LLC acquired a new position in Photronics during the 3rd quarter valued at about $28,000. Spire Wealth Management purchased a new stake in Photronics in the third quarter valued at about $63,000. Finally, Mendota Financial Group LLC boosted its holdings in Photronics by 20.8% in the fourth quarter. Mendota Financial Group LLC now owns 6,125 shares of the semiconductor company’s stock worth $192,000 after acquiring an additional 1,053 shares in the last quarter. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Photronics Trading Up 0.9 %

Shares of Photronics stock opened at $29.03 on Tuesday. The firm’s 50 day simple moving average is $28.17 and its two-hundred day simple moving average is $26.95. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 13.02 and a beta of 1.41. Photronics, Inc. has a 12-month low of $14.48 and a 12-month high of $34.16.

Photronics (NASDAQ:PLAB) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $220.00 million. During the same period in the previous year, the company earned $0.40 earnings per share. Photronics’s revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts predict that Photronics, Inc. will post 2.15 EPS 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.