UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 15,369 Shares of Photronics, Inc. (NASDAQ:PLAB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Photronics, Inc. (NASDAQ:PLAB) by 12.6% during the third quarter, Holdings Channel reports. The institutional investor owned 106,467 shares of the semiconductor company’s stock after selling 15,369 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Photronics were worth $2,636,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. grew its holdings 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% during the 2nd quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock worth $49,094,000 after buying an additional 275,082 shares during the last quarter. American Century Companies Inc. increased its position in 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 buying an additional 191,809 shares in the last quarter. Victory Capital Management Inc. raised its stake in Photronics by 20.8% in the second quarter. Victory Capital Management Inc. now owns 505,567 shares of the semiconductor company’s stock valued at $12,472,000 after buying an additional 86,938 shares during the last quarter. Finally, Inspire Advisors LLC purchased a new stake in Photronics in the second quarter valued at about $2,112,000. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Photronics Price Performance

NASDAQ PLAB opened at $26.49 on Friday. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 12.67 and a beta of 1.41. The stock’s fifty day moving average price is $24.48 and its 200 day moving average price is $24.54. Photronics, Inc. has a 1 year low of $20.25 and a 1 year high of $34.16.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The business had revenue of $222.60 million for the quarter, compared to analyst estimates of $218.00 million. During the same period in the prior year, the company earned $0.60 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. Research analysts expect that Photronics, Inc. will post 2.2 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Photronics from a “hold” rating to a “buy” rating in a report on Saturday, September 28th. DA Davidson boosted their target price on shares of Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday.

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.