Photronics, Inc. - SEC Filing

View:

Download DOC

Download PDF

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

NAME OF ISSUER PHOTRONICS, INC.

TITLE OF CLASS OF SECURITIES Common

CUSIP NUMBER 719405102

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).

Page 1 of 10 Pages

13G

CUSIP No. 719405102 Page 2 of 10 Pages
- --------------------------------------------------------------------
- ----------
1. Name of reporting person
S.S. or I.R.S. identification no. of above person

Marsh & McLennan Companies, Inc.
36-2668272
- --------------------------------------------------------------------
- ----------
2. Check the appropriate box if a member of a group*
(a)( ) (b)( )
- --------------------------------------------------------------------
- ----------
3. SEC use only

- --------------------------------------------------------------------
- ----------
4. Citizenship or place of organization

Delaware
- --------------------------------------------------------------------
- ----------
5. Sole Voting
Power

NONE
-----------------------------
Number of shares ) 6. Shared Voting Power
Beneficially )
Owned by each ) NONE
Reporting ) -----------------------------
Person with: ) 7. Sole Dispositive Power

NONE
-----------------------------
8. Shared
Dispositive Power

NONE
- --------------------------------------------------------------------
- ----------
9. Aggregate amount beneficially owned by each reporting person

NONE
- --------------------------------------------------------------------
- ----------
10. Check box if the aggregate amount in row (9) excludes
certain shares*

- --------------------------------------------------------------------
- ----------
11. Percent of class represented by amount in row 9

NONE
- --------------------------------------------------------------------
- ----------
12. Type of Reporting person*

HC
- --------------------------------------------------------------------
- ----------

13G

CUSIP No. 719405102 Page 3 of 10 Pages
- --------------------------------------------------------------------
- ----------
1. Name of reporting person
S.S. or I.R.S. identification no. of above person

Putnam Investments, Inc.
04-2539558
- --------------------------------------------------------------------
- ----------
2. Check the appropriate box if a member of a group*
(a)( ) (b)( )
- --------------------------------------------------------------------
- ----------
3. SEC use only

- --------------------------------------------------------------------
- ----------
4. Citizenship or place of organization

Massachusetts
- --------------------------------------------------------------------
- ----------
5. Sole Voting
Power

NONE
Number of shares ) ----------------------------
- -
Beneficially ) 6. Shared Voting Power
owned by each )
169,600
Reporting )
Person with: ) -----------------------------
7. Sole
Dispositive Power

NONE
-----------------------------
8. Shared
Dispositive Power

1,962,464
- --------------------------------------------------------------------
- ----------
9. Aggregate amount beneficially owned by each reporting person

1,962,464

- --------------------------------------------------------------------
- ----------
10. Check box if the aggregate amount in row (9) excludes
certain shares*

- --------------------------------------------------------------------
- ----------
11. Percent of class represented by amount in row 9

8%
- --------------------------------------------------------------------
- ----------
12. Type of Reporting person*

HC
- --------------------------------------------------------------------
- ----------

13G

CUSIP No. 719405102 Page 4 of 10 Pages
- --------------------------------------------------------------------
- ----------
1. Name of reporting person
S.S. or I.R.S. identification no. of above person

Putnam Investment Management, Inc.
04-2471937
- --------------------------------------------------------------------
- ----------
2. Check the appropriate box if a member of a group*
(a)( ) (b)( )
- --------------------------------------------------------------------
- ----------
3. SEC use only

- --------------------------------------------------------------------
- ----------
4. Citizenship or place of organization

Massachusetts
- --------------------------------------------------------------------
- ----------
5. Sole Voting
Power

NONE
Number of shares ) ----------------------------
- -
Beneficially ) 6. Shared Voting Power
Owned by each )
Reporting ) NONE
Person with: ) -----------------------------
7. Sole
Dispositive Power

NONE
-----------------------------
8. Shared Dispositive
Power

1,776,764
- --------------------------------------------------------------------
- ----------
9. Aggregate amount beneficially owned by each reporting person

1,776,764
- --------------------------------------------------------------------
- ----------
10. Check box if the aggregate amount in row (9) excludes
certain shares*

- --------------------------------------------------------------------
- ----------
11. Percent of class represented by amount in row 9

7%
- --------------------------------------------------------------------
- ----------
12. Type of Reporting person*

IA
- --------------------------------------------------------------------
----------

13G

CUSIP No. 719405102 Page 5 of 10 Pages
- --------------------------------------------------------------------
- ----------
1. Name of reporting person
S.S. or I.R.S. identification no. of above person

The Putnam Advisory Company, Inc.
04-6187127
- --------------------------------------------------------------------
- ----------
2. Check the appropriate box if a member of a group*
(a)( ) (b)( )
- --------------------------------------------------------------------
- ----------
3. SEC use only

- --------------------------------------------------------------------
- ----------
4. Citizenship or place of organization

Massachusetts
- --------------------------------------------------------------------
- ----------
5. Sole Voting
Power

NONE
Number of shares ) ----------------------------
- -
Beneficially ) 6. Shared Voting Power
Owned by each )
Reporting ) 169,600
Person with: ) -----------------------------
7. Sole
Dispositive Power

NONE
-----------------------------
8. Shared
Dispositive Power

185,700
- --------------------------------------------------------------------
- ----------
9. Aggregate amount beneficially owned by each reporting person

185,700
- --------------------------------------------------------------------
- ----------
10. Check box if the aggregate amount in row (9) excludes certain
shares*

- --------------------------------------------------------------------
- ----------
11. Percent of class represented by amount in row 9

NONE
- --------------------------------------------------------------------
- ----------
12. Type of Reporting person*

IA
- --------------------------------------------------------------------
- ----------

SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 1)

Item 1(a) Name of Issuer: PHOTRONICS, INC.

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

1061 Indiantown Road, Ste. 318, Jupiter, FL 33477,

Item 2(a) Item 2(b)

Name of Person Filing: Address or
Principal Office or, if NONE,
Residence:

Putnam Investments, Inc. One Post Office Square
("PI") Boston, Massachusetts 02109
on behalf of itself and:

*Marsh & McLennan Companies, Inc. 1166 Avenue of the Americas
("MMC") New York, NY 10036

Putnam Investment Management, Inc. One Post Office Square
("PIM") Boston, Massachusetts 02109

The Putnam Advisory Company, Inc. One Post Office Square
("PAC") Boston, Massachusetts 02109

Item 2(c) Citizenship: PI, PIM and PAC are corporations
organized under Massachusetts law. The citizenship
of other persons identified in Item 2(a) is
designated as follows:

* Corporation - Delaware law
** Voluntary association known as
Massachusetts business trust - Massachusetts law

Item 2(d) Title of Class of Securities: Common

Item 2(e) Cusip Number: 719405102

Page 6 of 10 Pages

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

(a)( ) Broker or Dealer registered under Section 15 of the Act

(b)( ) Bank as defined in Section 3(a)(6) of the Act

(c)( ) Insurance Company as defined in Section 3(a)(19) of the
Act

(d)( ) Investment Company registered under Section 8 of the
Investment Company Act

(e)( X ) Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940

(f)( ) Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income Security
Act of 1974 or Endowment Fund; see (Section
240.13d-1(b)(1)(ii)(F)

(g)( X ) Parent Holding Company, in accordance with Section
240.13d-1(b)(ii)(G)

(h)( ) Group, in accordance with Section 240.13d-1(b)(1)(ii)(H)

Page 7 of 10 Pages

Item 4.
Ownership.

M&MC PIM* PAC PI
----- ----- --- ----
(Parent holding (Investment advisers (Parent company
company to PI) & subsidiaries of PI) to PIM and PAC)

(a) Amount Beneficially
Owned: NONE 1,776,764 + 185,700 = 1,962,464

(b) Percent of Class: NONE 7% + NONE = 8%

(1) sole power to vote
or to direct the vote;
(but see Item 7) NONE NONE NONE NONE

(2) shared power to vote
or to direct the vote;
(but see Item 7) NONE NONE 169,600 169,600

(3) sole power to dispose
or to direct the
disposition of;
(but see Item 7) NONE NONE NONE NONE

(4) shared power to
dispose or to direct
the disposition of;
(but see Item 7) NONE ALL ALL ALL

Page 8 of 10 Pages

Item 5. Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as
of the date thereof the reporting person has ceased to be
the beneficial owner of more than five percent of the class
of securities, check the following ( ).

Item 6. Ownership of More than Five/Ten Percent on Behalf
of Another Person:
No persons other than the persons filing this Schedule 13G
have an economic interest in the securities reported on
which relates to more than five percent of the class of
securities. Securities reported on this Schedule 13G as
being beneficially owned by M&MC and PI consist of
securities beneficially owned by subsidiaries of PI which
are registered investment advisers, which in turn include
securities beneficially owned by clients of such investment
advisers, which clients may include investment companies
registered under the Investment Company Act and/or employee
benefit plans, pension funds, endowment funds or other
institutional clients.

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

PI, which is a wholly-owned subsidiary of M&MC, wholly owns
two registered investment advisers: Putnam Investment
Management, Inc., which is the investment adviser to the
Putnam family of mutual funds and The Putnam Advisory
Company, Inc., which is the investment adviser to Putnam's
institutional clients. Both subsidiaries have dispository
power over the shares as investment managers, but each of
the mutual fund's trustees have voting power over the shares
held by each fund, and The Putnam Advisory Company, Inc. has
shared voting power over the shares held by the
institutional clients. Pursuant to Rule 13d-4, M&MC and PI
declare that the filing of this Schedule 13G shall not be
deemed an admission by either or both of them that they are,
for the purposes of Section 13(d) or 13(g) the beneficial
owner of any securities covered by this Section 13G, and
further state that neither of them have any power to vote or
dispose of, or direct the voting or disposition of, any of
the securities covered by this Schedule 13G.

Item 8. Identification and Classification of Members of
the Group:
Not applicable.

Item 9. Notice of Dissolution of Group:

Not applicable.

Item 10. Certification.

Page 9 of 10 Pages

By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired
in the ordinary course of business, were not acquired for
the purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in
any transaction having such purposes or effect.

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.

PUTNAM INVESTMENTS, INC.

/s/Frederick S. Marius
BY: -------------------------------------------
Signature

Name/Title: Frederick S. Marius
Vice President and Counsel

Date: January 16, 1998

For this and all future filings, reference is made to Power
of Attorney dated November 9, 1992, with respect to duly
authorized signatures on behalf of Marsh & McLennan
Companies, Inc., Putnam Investments, Inc., Putnam Investment
Management, Inc., The Putnam Advisory Company, Inc. and any
Putnam Fund wherever applicable.

For this and all future filings, reference is made to an
Agreement dated June 28, 1990, with respect to one filing of
Schedule 13G on behalf of said entities, pursuant to Rule
13d-1(f)(1).

Page 10 of 10 Pages