Fmr LLC Acquires 35,825 Shares of Photronics, Inc. (NASDAQ:PLAB)

Fmr LLC lifted its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 36.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 135,208 shares of the semiconductor company’s stock after purchasing an additional 35,825 shares during the period. Fmr LLC’s holdings in Photronics were worth $3,348,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE grew its holdings in shares of Photronics by 137.2% during the 3rd quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 701 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Photronics by 65.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 567 shares during the last quarter. Quarry LP grew its holdings in shares of Photronics by 223.4% during the 2nd quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 1,816 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Photronics by 65.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Photronics during the 2nd quarter valued at $75,000. Institutional investors own 88.38% of the company’s stock.

Photronics Price Performance

Shares of NASDAQ PLAB opened at $26.49 on Friday. Photronics, Inc. has a 1 year low of $20.25 and a 1 year high of $34.16. The stock has a market cap of $1.68 billion, a P/E ratio of 12.67 and a beta of 1.41. The firm has a 50-day moving average of $24.48 and a 200 day moving average of $24.56.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $222.60 million during the quarter, compared to analyst estimates of $218.00 million. Photronics had a net margin of 15.07% and a return on equity of 9.10%. Photronics’s revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.60 EPS. Research analysts expect that Photronics, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PLAB. StockNews.com raised shares of Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th. DA Davidson increased their price target on shares of Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday.

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.