Skylands Capital LLC cut its stake in shares of Photronics, Inc. (NASDAQ:PLAB – Free Report) by 30.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 109,200 shares of the semiconductor company’s stock after selling 48,850 shares during the quarter. Skylands Capital LLC’s holdings in Photronics were worth $3,426,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new position in shares of Photronics during the 3rd quarter valued at $28,000. Parkside Financial Bank & Trust increased its stake in Photronics by 571.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the semiconductor company’s stock worth $33,000 after buying an additional 897 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Photronics in the 4th quarter worth $40,000. Spire Wealth Management bought a new stake in Photronics during the third quarter valued at about $63,000. Finally, Mendota Financial Group LLC boosted its stake in shares of Photronics by 20.8% in the fourth quarter. Mendota Financial Group LLC now owns 6,125 shares of the semiconductor company’s stock worth $192,000 after acquiring an additional 1,053 shares during the period. 88.38% of the stock is currently owned by institutional investors.
Photronics Price Performance
Shares of PLAB stock traded up $0.18 during mid-day trading on Monday, hitting $28.46. The company had a trading volume of 115,235 shares, compared to its average volume of 546,054. The stock’s 50 day moving average price is $28.29 and its 200-day moving average price is $26.62. Photronics, Inc. has a 52-week low of $14.15 and a 52-week high of $34.16. The company has a market capitalization of $1.80 billion, a P/E ratio of 12.68 and a beta of 1.40.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut Photronics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 22nd.
Check Out Our Latest Stock Analysis on PLAB
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.
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