Creative Planning Purchases Shares of 10,089 Photronics, Inc. (NASDAQ:PLAB)

Creative Planning acquired a new stake in shares of Photronics, Inc. (NASDAQ:PLAB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 10,089 shares of the semiconductor company’s stock, valued at approximately $250,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BNP Paribas Financial Markets lifted its position in shares of Photronics by 74.2% in the first quarter. BNP Paribas Financial Markets now owns 41,742 shares of the semiconductor company’s stock worth $1,182,000 after buying an additional 17,781 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Photronics by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 54,791 shares of the semiconductor company’s stock worth $1,552,000 after acquiring an additional 759 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Photronics by 17.9% during the 1st quarter. Meeder Asset Management Inc. now owns 24,919 shares of the semiconductor company’s stock valued at $706,000 after acquiring an additional 3,781 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Photronics by 177.9% in the first quarter. Russell Investments Group Ltd. now owns 98,774 shares of the semiconductor company’s stock valued at $2,797,000 after purchasing an additional 63,228 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Photronics by 7.4% in the first quarter. ProShare Advisors LLC now owns 12,345 shares of the semiconductor company’s stock valued at $350,000 after purchasing an additional 848 shares in the last quarter. Institutional investors own 88.38% of the company’s stock.

Photronics Stock Performance

PLAB opened at $25.49 on Monday. The stock’s 50 day moving average price is $23.80 and its 200-day moving average price is $25.08. Photronics, Inc. has a one year low of $19.41 and a one year high of $34.16. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 11.23 and a beta of 1.40.

Photronics (NASDAQ:PLAB) last issued 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). Photronics had a net margin of 16.22% and a return on equity of 9.46%. The company had revenue of $211.00 million for the quarter, compared to analysts’ expectations of $225.00 million. During the same period in the prior year, the firm posted $0.51 earnings per share. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, analysts predict that Photronics, Inc. will post 2.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Photronics from a “hold” rating to a “buy” rating in a 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.