Kendall Capital Management Has $1.43 Million Stock Position in Photronics, Inc. (NASDAQ:PLAB)

Kendall Capital Management grew its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,035 shares of the semiconductor company’s stock after buying an additional 1,685 shares during the quarter. Kendall Capital Management owned 0.09% of Photronics worth $1,432,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Arizona State Retirement System grew its holdings in shares of 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 during the last quarter. SummerHaven Investment Management LLC boosted its holdings in Photronics by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 28,145 shares of the semiconductor company’s stock worth $694,000 after purchasing an additional 563 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings 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 purchased a new position in Photronics during the fourth quarter worth about $25,000. Finally, ProShare Advisors LLC boosted its holdings in Photronics by 7.4% during 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 last quarter. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Photronics from a “hold” rating to a “buy” rating in a report on Thursday, September 12th.

Photronics Stock Performance

Photronics stock opened at $23.12 on Thursday. Photronics, Inc. has a fifty-two week low of $18.03 and a fifty-two week high of $34.16. The stock has a market cap of $1.46 billion, a PE ratio of 10.70 and a beta of 1.40. The firm’s 50-day simple moving average is $24.07 and its 200 day simple moving average is $26.15.

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

Photronics 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.