SECURITIES AND EXCHANGE COMMISSION

                     Washington, D.C.  20549


                          SCHEDULE 13G

     Information Statement Pursuant to Rule 13d-1 and 13d-2

                       (Amendment No. 8)*

                        PHOTRONICS, Inc.
- -----------------------------------------------------------------
                        (Name of Issuer)

             Common Stock, par value $0.01 per share
- -----------------------------------------------------------------
                 (Title of Class of Securities)

                           719405 10 2
- -----------------------------------------------------------------
                         (CUSIP Number)







     * The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.



     The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18 of
the Securities Exchange Act of 1934 ("Act") or otherwise subject to
the liabilities of that section of the Act but shall be subject to
all other provisions of the Act (however, see the Notes).

                 (Continued on following pages)




                        Page 1 of 5 Pages



Schedule 13G                                      Page 2 of 5


CUSIP No.    719405 10 2  

- -----------------------------------------------------------------
1)  Names of Reporting Persons. S.S. or I.R.S. Identification
    Nos. of Above Persons     Constantine S. Macricostas   
- -----------------------------------------------------------------
2)  Check the Appropriate Box if a Member of a Group 
    (See Instructions) __________________________________________

    (a) _________________________________________________________

    (b) _________________________________________________________
- -----------------------------------------------------------------

3)  SEC Use Only ................................................

- -----------------------------------------------------------------
4)  Citizenship or Place of Organization 
       United States of America   
- -----------------------------------------------------------------

 Number of      (5)  Sole Voting Power           413,150 (1)  
Shares Bene-    -------------------------------------------------
 ficially       (6)  Shared Voting Power       1,165,309 (2)
 Owned By       -------------------------------------------------
Each Report-    (7)  Sole Dispositive Power      413,150 (1)  
 ing Person     -------------------------------------------------
   With         (8)  Shared Dispositive Power  1,165,309 (2)

- -----------------------------------------------------------------
9)  Aggregate Amount Beneficially Owned by Each Reporting Person
       1,596,459 (1) (2) (3)
- -----------------------------------------------------------------
10) Check if the Aggregate Amount in Row (9) Excludes Certain
    Shares  (See Instructions)                                 
- -----------------------------------------------------------------

11) Percent of Class Represented by Amount in Row 9    13.3%  

- -----------------------------------------------------------------

12) Type of Reporting Person (See Instructions)    IN  

- -----------------------------------------------------------------

(1)  Includes 145,628 shares of Common Stock for which I have options 
     exercisible within 60 days and 11,250 shares subject to forfeiture 
     pursuant to restricted stock awards.

(2)  Includes 1,140,000 shares owned by Macricostas Partners, L.P. of which I 
     am a limited partner and 25,309 shares of Macricostas Management, Inc. 
     which is the general partner of Macricostas Partners, L.P., of which I 
     am a significant shareholder, the sole director and President.

(3)  Includes 18,000 shares owned by my wife, as to which I disclaim ownership.


Schedule 13G                                      Page 3 of 5



                   CONSTANTINE S. MACRICOSTAS


Item 1 (a)     Name of Issuer:

               Photronics, Inc.


Item 1 (b)     Address of Issuer's Principal Executive Offices:

               1061 East Indiantown Road
               Jupiter, Florida  33477


Item 2 (a)     Name of Person Filing:  Constantine S. Macricostas


Item 2 (b)     Address of Principal Business Office or,
               if none, residence:

               1061 East Indiantown Road
               Jupiter, Florida  33477


Item 2 (c)     Citizenship:  United States of America


Item 2 (d)     Title of Class of Securities:

               Common Stock, par value $0.01 per share


Item 2 (e)     CUSIP Number:  719405 10 2


Item 3         If this Statement is filed pursuant to Rules 
               13d-1(b) or 13d-2(b), check whether the person
               filing is a:

               Not Applicable










Schedule 13G                                      Page 4 of 5



Item 4    Ownership:

          (a)  Amount Beneficially Owned:

               As of December 31, 1996, I directly own 267,522
               shares of Common Stock (of which 11,250 shares were
               subject to forfeiture under restricted stock awards)
               and have options, exercisible within sixty (60)
               days, to acquire 145,628 shares of Common Stock.  I
               indirectly own shares as a limited partner of 
               Macricostas Partners, L.P. which owns 1,140,000
               shares of Common Stock and through Macricostas
               Management, Inc. which owns 25,309 shares of Common
               Stock and of which I am a significant shareholder,
               the sole director and President.  I disclaim
               beneficial ownership of those shares not represented
               by my ownership interests in such entities.  I may
               also be deemed the beneficial owner of 18,000 shares
               held by my wife, as to which shares I disclaim
               beneficial ownership.  The foregoing does not
               include options to acquire 50,000 shares of common
               stock which are not exerciseable within sixty (60)
               days. 

          (b)  Percent of Class:  13.3%

          (c)  Number of Shares as to which such person has:

               (i) sole power to vote or to direct the vote
                                            413,150   

              (ii) shared power to vote or to direct the vote
                           1,165,309

             (iii) sole power to dispose or to direct the 
                   disposition of       413,150   

              (iv) shared power to dispose or to direct the
                   disposition of       1,165,309


Item 5    Ownership of Five Percent or Less of a Class

          Not applicable






Schedule 13G                                      Page 5 of 5




Item 6    Ownership of More Than Five Percent on Behalf of
          Another Person

          Not applicable


Item 7    Identification and Classification of the Subsidiary
          Which Acquired the Security Being Reported on by
          the Parent Holding Company

          Not applicable


Item 8    Identification and Classification of Members of the
          Group

          Not applicable


Item 9    Notice of Dissolution of Group

          Not applicable


Item 10   Certification

          Not applicable



          After reasonable inquiry and to the best of my knowledge
          and belief, I certify that the information set forth in
          this statement is true, complete and correct.



_______January 14, 1997_______
             (Date)


  CONSTANTINE S. MACRICOSTAS
  Constantine S. Macricostas


FORMS\13G97CM.#8/p