State Street Corp Increases Stock Position in Photronics, Inc. (NASDAQ:PLAB)

State Street Corp boosted its holdings in Photronics, Inc. (NASDAQ:PLAB) by 0.4% in the 3rd quarter, Holdings Channel reports. The firm owned 2,368,450 shares of the semiconductor company’s stock after purchasing an additional 10,590 shares during the period. State Street Corp’s holdings in Photronics were worth $58,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. US Bancorp DE increased its stake in Photronics by 137.2% in the third 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 period. Nisa Investment Advisors LLC grew its holdings in shares of Photronics by 65.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after buying an additional 567 shares during the last quarter. Quarry LP increased its position in Photronics by 223.4% in the 2nd quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,816 shares during the period. GAMMA Investing LLC raised its stake in 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 acquiring an additional 1,164 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Photronics during the 2nd quarter worth approximately $75,000. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PLAB. DA Davidson boosted their target price on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, December 12th. 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 5.0 %

NASDAQ PLAB opened at $24.91 on Thursday. The stock has a market capitalization of $1.58 billion, a P/E ratio of 11.92 and a beta of 1.41. Photronics, Inc. has a 52-week low of $20.25 and a 52-week high of $34.16. The firm has a 50-day moving average price of $24.59 and a 200 day moving average price of $24.51.

Photronics (NASDAQ:PLAB) last issued its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The business had revenue of $222.60 million during the quarter, compared to the consensus estimate of $218.00 million. During the same period in the prior year, the business posted $0.60 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities research analysts expect that Photronics, Inc. will post 2.3 earnings per share 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.