Inspire Investing LLC Sells 15,076 Shares of Photronics, Inc. (NASDAQ:PLAB)

Inspire Investing LLC trimmed its position in Photronics, Inc. (NASDAQ:PLAB) by 47.5% in the third quarter, HoldingsChannel reports. The firm owned 16,695 shares of the semiconductor company’s stock after selling 15,076 shares during the quarter. Inspire Investing LLC’s holdings in Photronics were worth $413,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLAB. Vanguard Group Inc. boosted its stake in shares of Photronics by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,715,429 shares of the semiconductor company’s stock worth $161,861,000 after buying an additional 265,533 shares during the last quarter. Pacer Advisors Inc. boosted its position in Photronics by 17.2% in the second quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company’s stock worth $61,252,000 after purchasing an additional 364,150 shares during the last quarter. LSV Asset Management grew its stake in Photronics by 16.0% in the 2nd quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock valued at $49,094,000 after purchasing an additional 275,082 shares during the period. American Century Companies Inc. increased its position in shares of Photronics by 12.8% during the 2nd quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock valued at $41,560,000 after purchasing an additional 191,809 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Photronics by 225.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 840,538 shares of the semiconductor company’s stock worth $23,805,000 after purchasing an additional 582,664 shares during the period. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Photronics from a “hold” rating to a “buy” rating in a report on Saturday, September 28th.

Photronics Price Performance

Shares of NASDAQ PLAB opened at $23.91 on Thursday. The stock has a market capitalization of $1.51 billion, a PE ratio of 11.07 and a beta of 1.40. Photronics, Inc. has a one year low of $18.03 and a one year high of $34.16. The business’s fifty day moving average price is $23.70 and its 200-day moving average price is $25.51.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The business had revenue of $211.00 million during the quarter, compared to analysts’ expectations of $225.00 million. Photronics had a net margin of 16.22% and a return on equity of 9.46%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. As a group, equities analysts expect that Photronics, Inc. will post 2.08 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.