Photronics, Inc. (NASDAQ:PLAB) Shares Sold by Watershed Asset Management L.L.C.

Watershed Asset Management L.L.C. lowered its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 18.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,402 shares of the semiconductor company’s stock after selling 2,348 shares during the period. Photronics makes up approximately 0.4% of Watershed Asset Management L.L.C.’s portfolio, making the stock its 23rd largest position. Watershed Asset Management L.L.C.’s holdings in Photronics were worth $326,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PLAB. Orion Capital Management LLC acquired a new position in Photronics in the third quarter valued at about $28,000. Parkside Financial Bank & Trust raised its stake in shares of Photronics by 571.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 897 shares during the period. GAMMA Investing LLC acquired a new position in shares of Photronics in the 4th quarter worth approximately $40,000. Spire Wealth Management purchased a new position in shares of Photronics during the 3rd quarter worth approximately $63,000. Finally, Mendota Financial Group LLC increased its holdings in Photronics by 20.8% in the 4th quarter. Mendota Financial Group LLC now owns 6,125 shares of the semiconductor company’s stock valued at $192,000 after purchasing an additional 1,053 shares during the last quarter. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Photronics Stock Up 5.0 %

NASDAQ PLAB traded up $1.28 during trading on Tuesday, hitting $26.96. The stock had a trading volume of 406,622 shares, compared to its average volume of 561,772. The company has a market capitalization of $1.71 billion, a PE ratio of 12.09 and a beta of 1.40. The firm has a 50 day moving average price of $28.63 and a 200 day moving average price of $26.46. Photronics, Inc. has a twelve month low of $13.86 and a twelve month high of $34.16.

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

Analysts Set New Price Targets

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

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.