Ritholtz Wealth Management Has $228,000 Stake in Photronics, Inc. (NASDAQ:PLAB)

Ritholtz Wealth Management reduced its stake in Photronics, Inc. (NASDAQ:PLAB) by 38.3% in the 3rd quarter, Holdings Channel reports. The firm owned 9,208 shares of the semiconductor company’s stock after selling 5,705 shares during the period. Ritholtz Wealth Management’s holdings in Photronics were worth $228,000 as of its most recent filing with the SEC.

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

Photronics Trading Down 0.5 %

PLAB opened at $23.80 on Friday. Photronics, Inc. has a 1-year low of $18.03 and a 1-year high of $34.16. The business has a 50 day moving average of $23.74 and a 200-day moving average of $25.50. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 11.02 and a beta of 1.40.

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

Wall Street Analyst Weigh In

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

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.