Photronics, Inc. (NASDAQ:PLAB) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. decreased its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 59.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,125 shares of the semiconductor company’s stock after selling 16,625 shares during the quarter. Kovack Advisors Inc.’s holdings in Photronics were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PLAB. Mackenzie Financial Corp bought a new stake in shares of Photronics during the 4th quarter valued at about $984,000. Charles Schwab Investment Management Inc. increased its stake in Photronics by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 885,863 shares of the semiconductor company’s stock valued at $27,790,000 after buying an additional 30,163 shares during the period. Assenagon Asset Management S.A. increased its stake in Photronics by 20.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 827,315 shares of the semiconductor company’s stock valued at $25,953,000 after buying an additional 139,734 shares during the period. Boston Partners increased its stake in shares of Photronics by 250.2% during the 4th quarter. Boston Partners now owns 625,927 shares of the semiconductor company’s stock worth $19,711,000 after purchasing an additional 447,182 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Photronics by 187.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 169,834 shares of the semiconductor company’s stock worth $3,432,000 after purchasing an additional 110,792 shares during the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.

Photronics Trading Down 0.1 %

NASDAQ PLAB opened at $25.17 on Friday. Photronics, Inc. has a 1 year low of $18.03 and a 1 year high of $34.16. The company has a fifty day simple moving average of $26.78 and a 200 day simple moving average of $28.55. The company has a market cap of $1.59 billion, a P/E ratio of 11.65 and a beta of 1.38.

Photronics (NASDAQ:PLAB) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.09). The firm had revenue of $217.00 million for the quarter, compared to analyst estimates of $231.00 million. Photronics had a return on equity of 9.73% and a net margin of 15.14%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.54 EPS. Equities research analysts forecast that Photronics, Inc. will post 2.1 EPS for the current fiscal year.

Photronics 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.