Photronics, Inc. (NASDAQ:PLAB) Shares Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its holdings in Photronics, Inc. (NASDAQ:PLAB) by 12.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,318 shares of the semiconductor company’s stock after acquiring an additional 3,942 shares during the period. Tectonic Advisors LLC’s holdings in Photronics were worth $874,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PLAB. Wellington Management Group LLP lifted its holdings in Photronics by 5.6% in the fourth quarter. Wellington Management Group LLP now owns 69,376 shares of the semiconductor company’s stock valued at $2,176,000 after acquiring an additional 3,656 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Photronics by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 5,449,896 shares of the semiconductor company’s stock valued at $170,963,000 after acquiring an additional 128,365 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in Photronics by 23.3% in the first quarter. Hodges Capital Management Inc. now owns 105,365 shares of the semiconductor company’s stock valued at $2,984,000 after acquiring an additional 19,895 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Photronics by 208.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 140,855 shares of the semiconductor company’s stock valued at $3,989,000 after purchasing an additional 95,149 shares during the period. Finally, Penbrook Management LLC raised its position in Photronics by 2.4% in the first quarter. Penbrook Management LLC now owns 114,495 shares of the semiconductor company’s stock valued at $3,242,000 after purchasing an additional 2,695 shares during the period. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Photronics Stock Up 1.8 %

Shares of NASDAQ PLAB opened at $23.60 on Friday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 10.40 and a beta of 1.40. Photronics, Inc. has a 52-week low of $18.03 and a 52-week high of $34.16. The business’s 50 day moving average is $23.83 and its two-hundred day moving average is $25.33.

Photronics (NASDAQ:PLAB) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The firm had revenue of $211.00 million during the quarter, compared to analysts’ expectations of $225.00 million. Photronics had a net margin of 16.22% and a return on equity of 9.46%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 EPS. Analysts anticipate that Photronics, Inc. will post 2.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.