ProShare Advisors LLC Purchases 2,881 Shares of Photronics, Inc. (NASDAQ:PLAB)

ProShare Advisors LLC lifted its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 23.3% in the 2nd quarter, Holdings Channel reports. The fund owned 15,226 shares of the semiconductor company’s stock after buying an additional 2,881 shares during the quarter. ProShare Advisors LLC’s holdings in Photronics were worth $376,000 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. Russell Investments Group Ltd. lifted its holdings in Photronics by 177.9% during the 1st quarter. Russell Investments Group Ltd. now owns 98,774 shares of the semiconductor company’s stock worth $2,797,000 after purchasing an additional 63,228 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in Photronics by 19.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 308,856 shares of the semiconductor company’s stock worth $8,746,000 after purchasing an additional 49,331 shares in the last quarter. LSV Asset Management lifted its holdings in Photronics by 13.7% during the 1st quarter. LSV Asset Management now owns 1,714,964 shares of the semiconductor company’s stock worth $48,568,000 after purchasing an additional 207,049 shares in the last quarter. Jennison Associates LLC purchased a new stake in Photronics during the 1st quarter worth about $1,121,000. Finally, Wedge Capital Management L L P NC raised its holdings in shares of Photronics by 11.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 228,950 shares of the semiconductor company’s stock valued at $5,648,000 after acquiring an additional 23,449 shares in the last quarter. Institutional investors own 88.38% of the company’s stock.

Analysts Set New Price Targets

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

Photronics Stock Up 1.9 %

NASDAQ:PLAB opened at $24.39 on Thursday. The business’s 50-day moving average price is $23.57 and its two-hundred day moving average price is $25.81. Photronics, Inc. has a twelve month low of $18.03 and a twelve month high of $34.16. The stock has a market cap of $1.55 billion, a P/E ratio of 11.29 and a beta of 1.40.

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). Photronics had a net margin of 16.22% and a return on equity of 9.46%. The business had revenue of $211.00 million during the quarter, compared to analysts’ expectations of $225.00 million. During the same period in the previous year, the business earned $0.51 EPS. The business’s revenue was down 5.9% on a year-over-year basis. On average, equities 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.