Photronics, Inc. (NASDAQ:PLAB) Stock Holdings Raised by LSV Asset Management

LSV Asset Management lifted its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 16.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,990,046 shares of the semiconductor company’s stock after purchasing an additional 275,082 shares during the period. LSV Asset Management owned about 3.14% of Photronics worth $49,094,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Arizona State Retirement System raised its stake in Photronics by 3.1% during the second quarter. Arizona State Retirement System now owns 17,735 shares of the semiconductor company’s stock valued at $438,000 after buying an additional 530 shares in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Photronics by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,145 shares of the semiconductor company’s stock valued at $694,000 after acquiring an additional 563 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in Photronics by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 54,791 shares of the semiconductor company’s stock worth $1,552,000 after purchasing an additional 759 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in Photronics in the fourth quarter worth $25,000. Finally, ProShare Advisors LLC boosted its holdings in Photronics by 7.4% in the first quarter. ProShare Advisors LLC now owns 12,345 shares of the semiconductor company’s stock worth $350,000 after purchasing an additional 848 shares during the period. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Photronics from a “buy” rating to a “hold” rating in a report on Monday, September 2nd.

Photronics Stock Up 0.4 %

Shares of NASDAQ PLAB opened at $22.09 on Tuesday. The firm’s 50-day moving average price is $24.40 and its two-hundred day moving average price is $26.40. Photronics, Inc. has a 52-week low of $18.03 and a 52-week high of $34.16. The stock has a market capitalization of $1.40 billion, a P/E ratio of 10.23 and a beta of 1.40.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.05). The company had revenue of $211.00 million during the quarter, compared to the consensus estimate of $225.00 million. Photronics had a return on equity of 9.46% and a net margin of 16.22%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. As a group, equities research analysts expect that Photronics, Inc. will post 2.08 earnings per share for the current year.

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.