Pacer Advisors Inc. Raises Stock Holdings in Photronics, Inc. (NASDAQ:PLAB)

Pacer Advisors Inc. boosted its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 17.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,482,856 shares of the semiconductor company’s stock after acquiring an additional 364,150 shares during the quarter. Pacer Advisors Inc.’s holdings in Photronics were worth $61,252,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Photronics by 4.9% during the first quarter. Vanguard Group Inc. now owns 5,715,429 shares of the semiconductor company’s stock worth $161,861,000 after purchasing an additional 265,533 shares during the last quarter. LSV Asset Management grew its holdings in shares of 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 purchasing an additional 275,082 shares during the last quarter. American Century Companies Inc. increased its stake in Photronics by 12.8% in the 2nd quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock worth $41,560,000 after buying an additional 191,809 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $23,805,000 after buying an additional 582,664 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in Photronics by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 546,708 shares of the semiconductor company’s stock valued at $15,483,000 after buying an additional 10,509 shares during the period. Institutional investors own 88.38% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Photronics from a “buy” rating to a “hold” rating in a research report on Friday.

Photronics Stock Down 1.6 %

Shares of NASDAQ PLAB opened at $23.37 on Friday. Photronics, Inc. has a twelve month low of $18.03 and a twelve month high of $34.16. The firm has a market cap of $1.48 billion, a PE ratio of 10.82 and a beta of 1.40. The business has a fifty day simple moving average of $23.96 and a two-hundred day simple moving average of $26.08.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data 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). Photronics had a net margin of 16.22% and a return on equity of 9.46%. The firm had revenue of $211.00 million during the quarter, compared to the consensus estimate of $225.00 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The business’s revenue was down 5.9% compared to the same quarter last year. On average, research analysts expect that Photronics, Inc. will post 2.08 earnings per share for the current 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.