GAMMA Investing LLC Boosts Stock Position in Photronics, Inc. (NASDAQ:PLAB)

GAMMA Investing LLC grew its stake in Photronics, Inc. (NASDAQ:PLAB) by 65.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,932 shares of the semiconductor company’s stock after purchasing an additional 1,164 shares during the quarter. GAMMA Investing LLC’s holdings in Photronics were worth $73,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Photronics by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 5,715,429 shares of the semiconductor company’s stock valued at $161,861,000 after acquiring an additional 265,533 shares during the period. Pacer Advisors Inc. grew its stake in shares of Photronics by 17.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company’s stock valued at $61,252,000 after purchasing an additional 364,150 shares during the period. LSV Asset Management raised its position in Photronics by 16.0% in the second quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock worth $49,094,000 after acquiring an additional 275,082 shares during the period. American Century Companies Inc. grew its holdings in Photronics by 12.8% during the second quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock valued at $41,560,000 after purchasing an additional 191,809 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Photronics by 225.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 840,538 shares of the semiconductor company’s stock worth $23,805,000 after acquiring an additional 582,664 shares during the period. 88.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th.

Photronics Stock Down 2.3 %

NASDAQ PLAB opened at $23.59 on Wednesday. Photronics, Inc. has a twelve month low of $18.03 and a twelve month high of $34.16. The business has a 50-day moving average price of $23.64 and a 200-day moving average price of $25.52. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 10.92 and a beta of 1.40.

Photronics (NASDAQ:PLAB) last released its earnings results on Thursday, August 29th. The semiconductor company reported $0.51 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 analysts’ expectations of $225.00 million. Photronics had a return on equity of 9.46% and a net margin of 16.22%. Photronics’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS. Research analysts expect 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.