Photronics, Inc. (NASDAQ:PLAB) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lessened its position in Photronics, Inc. (NASDAQ:PLAB) by 2.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,829 shares of the semiconductor company’s stock after selling 611 shares during the period. New York Life Investment Management LLC’s holdings in Photronics were worth $653,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. LSV Asset Management boosted its holdings in shares of Photronics by 88.3% in the third quarter. LSV Asset Management now owns 1,560,215 shares of the semiconductor company’s stock worth $31,532,000 after buying an additional 731,793 shares during the period. Pacer Advisors Inc. lifted its position in Photronics by 64.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,397,983 shares of the semiconductor company’s stock worth $43,855,000 after buying an additional 547,510 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Photronics by 89.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 687,581 shares of the semiconductor company’s stock valued at $13,896,000 after buying an additional 325,280 shares during the period. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Photronics during the 4th quarter valued at $6,019,000. Finally, Vanguard Group Inc. increased its stake in shares of Photronics by 3.6% in the third quarter. Vanguard Group Inc. now owns 5,321,531 shares of the semiconductor company’s stock worth $107,548,000 after acquiring an additional 186,718 shares during the last quarter. Institutional investors and hedge funds own 88.38% 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 report on Thursday, February 22nd.

Photronics Stock Performance

NASDAQ:PLAB opened at $29.38 on Thursday. The company has a market capitalization of $1.86 billion, a P/E ratio of 13.17 and a beta of 1.41. The stock’s 50 day moving average price is $28.23 and its 200 day moving average price is $27.03. Photronics, Inc. has a 52 week low of $14.48 and a 52 week high of $34.16.

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

About Photronics

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.