Skylands Capital LLC Sells 48,850 Shares of Photronics, Inc. (NASDAQ:PLAB)

Skylands Capital LLC lessened its holdings in Photronics, Inc. (NASDAQ:PLAB) by 30.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,200 shares of the semiconductor company’s stock after selling 48,850 shares during the period. Skylands Capital LLC owned approximately 0.17% of Photronics worth $3,426,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

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

Photronics Stock Performance

NASDAQ PLAB traded up $0.18 on Monday, hitting $28.46. 115,235 shares of the stock traded hands, compared to its average volume of 546,054. The business’s fifty day moving average is $28.29 and its two-hundred day moving average is $26.62. Photronics, Inc. has a 12 month low of $14.15 and a 12 month high of $34.16. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 12.68 and a beta of 1.40.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Photronics had a net margin of 15.34% and a return on equity of 10.37%. The firm had revenue of $216.30 million for the quarter, compared to analysts’ expectations of $220.00 million. During the same period in the prior year, the company earned $0.40 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts expect that Photronics, Inc. will post 2.15 EPS for the current fiscal year.

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.