Pacer Advisors Inc. Decreases Position in Photronics, Inc. (NASDAQ:PLAB)

Pacer Advisors Inc. lessened its stake in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,374,676 shares of the semiconductor company's stock after selling 108,180 shares during the period. Pacer Advisors Inc. owned approximately 3.75% of Photronics worth $58,797,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PLAB. US Bancorp DE lifted its position in Photronics by 137.2% during the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 701 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Photronics by 65.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 567 shares in the last quarter. Quarry LP boosted its position in shares of Photronics by 223.4% in the second quarter. Quarry LP now owns 2,629 shares of the semiconductor company's stock worth $65,000 after purchasing an additional 1,816 shares during the period. GAMMA Investing LLC increased its stake in shares of Photronics by 65.8% in the third quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company's stock worth $73,000 after purchasing an additional 1,164 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Photronics during the 2nd quarter valued at $75,000. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Photronics from a "hold" rating to a "buy" rating in a report on Saturday, September 28th.

Photronics Price Performance

Shares of PLAB stock traded up $0.45 during mid-day trading on Friday, hitting $24.89. The company had a trading volume of 329,483 shares, compared to its average volume of 480,645. The company has a market capitalization of $1.58 billion, a P/E ratio of 10.96 and a beta of 1.40. The stock's 50 day moving average price is $24.07 and its 200-day moving average price is $24.85. Photronics, Inc. has a 52-week low of $20.25 and a 52-week high of $34.16.

Photronics (NASDAQ:PLAB - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.05). Photronics had a net margin of 16.22% and a return on equity of 9.46%. The firm had revenue of $211.00 million for the quarter, compared to the consensus estimate of $225.00 million. During the same period in the previous year, the company posted $0.51 earnings per share. Photronics's quarterly revenue was down 5.9% on a year-over-year basis. On average, equities research analysts expect that Photronics, Inc. will post 2.08 earnings per share for the current 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.