Royal Bank of Canada Has $563,000 Position in Photronics, Inc. (PLAB)

Royal Bank of Canada cut its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,903 shares of the semiconductor company’s stock after selling 2,043 shares during the period. Royal Bank of Canada owned approximately 0.09% of Photronics worth $563,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Third Avenue Management LLC grew its stake in shares of Photronics by 37.4% during the second quarter. Third Avenue Management LLC now owns 467,900 shares of the semiconductor company’s stock worth $4,399,000 after purchasing an additional 127,300 shares during the period. Donald Smith & CO. Inc. grew its stake in shares of Photronics by 18.8% during the second quarter. Donald Smith & CO. Inc. now owns 5,267,874 shares of the semiconductor company’s stock worth $49,518,000 after purchasing an additional 835,254 shares during the period. Virtu KCG Holdings LLC acquired a new stake in shares of Photronics during the second quarter worth $196,000. Citadel Advisors LLC grew its stake in shares of Photronics by 537.5% during the second quarter. Citadel Advisors LLC now owns 130,024 shares of the semiconductor company’s stock worth $1,222,000 after purchasing an additional 109,628 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Photronics by 1.2% during the second quarter. Renaissance Technologies LLC now owns 2,023,000 shares of the semiconductor company’s stock worth $19,016,000 after purchasing an additional 23,200 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

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Photronics, Inc. (NASDAQ PLAB) opened at $9.10 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.59 and a current ratio of 5.91. The firm has a market capitalization of $627.34, a PE ratio of 53.53, a price-to-earnings-growth ratio of 1.90 and a beta of 0.54. Photronics, Inc. has a twelve month low of $7.55 and a twelve month high of $12.10.

Photronics (NASDAQ:PLAB) last posted its earnings results on Monday, August 14th. The semiconductor company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). The business had revenue of $111.60 million for the quarter, compared to the consensus estimate of $115.14 million. Photronics had a return on equity of 1.33% and a net margin of 2.97%. During the same quarter in the prior year, the firm posted $0.12 earnings per share. equities analysts predict that Photronics, Inc. will post 0.19 EPS for the current year.

Several research analysts have weighed in on the company. Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. BidaskClub lowered Photronics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th.

In other Photronics news, VP Christopher J. Progler sold 4,000 shares of Photronics stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $8.85, for a total transaction of $35,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Sean T. Smith sold 18,750 shares of Photronics stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $9.48, for a total value of $177,750.00. Following the transaction, the chief financial officer now owns 159,108 shares in the company, valued at $1,508,343.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,500 shares of company stock worth $385,463. Corporate insiders own 3.71% of the company’s stock.

About Photronics

Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. As of October 30, 2016, the Company operated principally from nine manufacturing facilities: two located in Europe, three in Taiwan, one in Korea and three in the United States.

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Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

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