Dupont Capital Management Corp Decreases Stock Position in Photronics, Inc. (NASDAQ:PLAB)

Dupont Capital Management Corp lessened its stake in Photronics, Inc. (NASDAQ:PLAB) by 23.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,354 shares of the semiconductor company’s stock after selling 15,478 shares during the quarter. Dupont Capital Management Corp owned about 0.08% of Photronics worth $560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLAB. US Bancorp DE boosted its holdings in Photronics by 105.4% in the 1st quarter. US Bancorp DE now owns 3,204 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 1,644 shares during the period. Group One Trading L.P. purchased a new position in shares of Photronics during the 1st quarter valued at approximately $40,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Photronics by 43.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,833 shares of the semiconductor company’s stock valued at $60,000 after buying an additional 1,773 shares during the last quarter. Palouse Capital Management Inc. purchased a new position in shares of Photronics during the 1st quarter valued at approximately $118,000. Finally, Bailard Inc. purchased a new position in shares of Photronics during the 1st quarter valued at approximately $119,000. Hedge funds and other institutional investors own 92.28% of the company’s stock.

In other Photronics news, EVP Christopher J. Progler sold 12,870 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $11.02, for a total value of $141,827.40. Following the sale, the executive vice president now directly owns 119,733 shares of the company’s stock, valued at $1,319,457.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.82% of the stock is owned by company insiders.

Shares of PLAB opened at $11.88 on Friday. The business’s fifty day moving average price is $11.25 and its 200 day moving average price is $12.02. Photronics, Inc. has a 12-month low of $8.31 and a 12-month high of $16.75. The stock has a market capitalization of $779.57 million, a PE ratio of 23.29 and a beta of 0.79. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.08 and a quick ratio of 2.71.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, May 27th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.02). Photronics had a return on equity of 3.58% and a net margin of 5.47%. The firm had revenue of $148.20 million for the quarter, compared to the consensus estimate of $147.63 million. During the same quarter last year, the business earned $0.13 earnings per share. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, research analysts anticipate that Photronics, Inc. will post 0.6 earnings per share for the current fiscal year.

Several equities analysts have recently commented on the company. Stifel Nicolaus cut Photronics from a “buy” rating to a “hold” rating and reduced their target price for the company from $15.00 to $13.00 in a research note on Monday, June 22nd. BidaskClub upgraded Photronics from a “sell” rating to a “hold” rating in a research note on Thursday, April 16th. Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, ValuEngine cut Photronics from a “hold” rating to a “sell” rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $16.00.

About Photronics

Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz or glass plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.

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