Public Employees Retirement Association of Colorado Sells 491 Shares of Photronics, Inc. (NASDAQ:PLAB)

Public Employees Retirement Association of Colorado trimmed its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 6.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,112 shares of the semiconductor company’s stock after selling 491 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Photronics were worth $175,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Photronics by 225.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 840,538 shares of the semiconductor company’s stock worth $23,805,000 after buying an additional 582,664 shares in the last quarter. LSV Asset Management raised its holdings in shares of Photronics by 16.0% during the second 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. Vanguard Group Inc. boosted its holdings in Photronics by 4.9% in the first quarter. Vanguard Group Inc. now owns 5,715,429 shares of the semiconductor company’s stock worth $161,861,000 after acquiring an additional 265,533 shares in the last quarter. American Century Companies Inc. grew its position in Photronics by 12.8% in 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 period. Finally, Hussman Strategic Advisors Inc. grew its holdings in shares of Photronics by 500.0% during the first quarter. Hussman Strategic Advisors Inc. now owns 126,000 shares of the semiconductor company’s stock valued at $3,568,000 after buying an additional 105,000 shares during the last quarter. 88.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised Photronics from a “hold” rating to a “buy” rating in a research report on Saturday.

Photronics Price Performance

Shares of NASDAQ:PLAB opened at $24.80 on Monday. Photronics, Inc. has a 1 year low of $18.03 and a 1 year high of $34.16. The company has a market capitalization of $1.57 billion, a PE ratio of 11.48 and a beta of 1.40. The business has a fifty day moving average price of $23.71 and a two-hundred day moving average price of $25.88.

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