Wedge Capital Management L L P NC Sells 68,973 Shares of Photronics, Inc. (NASDAQ:PLAB)

Wedge Capital Management L L P NC lowered its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 22.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 242,570 shares of the semiconductor company’s stock after selling 68,973 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Photronics were worth $7,609,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Photronics by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,499 shares of the semiconductor company’s stock worth $1,208,000 after acquiring an additional 819 shares in the last quarter. Mendota Financial Group LLC lifted its holdings in shares of Photronics by 20.8% during the fourth quarter. Mendota Financial Group LLC now owns 6,125 shares of the semiconductor company’s stock worth $192,000 after purchasing an additional 1,053 shares during the period. LVZ Inc. lifted its holdings in shares of Photronics by 11.8% during the fourth quarter. LVZ Inc. now owns 12,657 shares of the semiconductor company’s stock worth $397,000 after purchasing an additional 1,331 shares during the period. Swiss National Bank lifted its holdings in shares of Photronics by 1.0% during the third quarter. Swiss National Bank now owns 137,400 shares of the semiconductor company’s stock worth $2,777,000 after purchasing an additional 1,400 shares during the period. Finally, Orion Capital Management LLC acquired a new stake in shares of Photronics during the third quarter worth about $28,000. Institutional investors own 88.38% of the company’s stock.

Photronics Trading Up 5.0 %

Shares of PLAB stock opened at $26.96 on Wednesday. The stock has a 50 day moving average of $28.63 and a 200 day moving average of $26.46. The stock has a market cap of $1.71 billion, a P/E ratio of 12.09 and a beta of 1.40. Photronics, Inc. has a twelve month low of $13.86 and a twelve month high of $34.16.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $216.30 million for the quarter, compared to analysts’ expectations of $220.00 million. Photronics had a net margin of 15.34% and a return on equity of 10.37%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. On average, research analysts predict that Photronics, Inc. will post 2.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Photronics from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 22nd.

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.