Intech Investment Management LLC Buys Shares of 18,076 Photronics, Inc. (NASDAQ:PLAB)

Intech Investment Management LLC bought a new stake in Photronics, Inc. (NASDAQ:PLAB) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 18,076 shares of the semiconductor company’s stock, valued at approximately $446,000.

A number of other large investors have also modified their holdings of the business. Inspire Investing LLC grew its stake in shares of Photronics by 150.4% during the second quarter. Inspire Investing LLC now owns 31,771 shares of the semiconductor company’s stock worth $784,000 after acquiring an additional 19,084 shares during the last quarter. Palouse Capital Management Inc. purchased a new stake in shares of Photronics during the second quarter worth about $75,000. Kendall Capital Management grew its stake in shares of Photronics by 3.0% during the second quarter. Kendall Capital Management now owns 58,035 shares of the semiconductor company’s stock worth $1,432,000 after acquiring an additional 1,685 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Photronics by 70.0% during the second quarter. Renaissance Technologies LLC now owns 196,395 shares of the semiconductor company’s stock worth $4,845,000 after acquiring an additional 80,900 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Photronics by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 87,932 shares of the semiconductor company’s stock worth $2,169,000 after acquiring an additional 2,951 shares during the last quarter. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Photronics from a “hold” rating to a “buy” rating in a research report on Saturday.

Photronics Stock Down 0.2 %

Shares of NASDAQ PLAB opened at $24.80 on Friday. The business’s 50 day moving average price is $23.73 and its 200 day moving average price is $25.96. The firm has a market cap of $1.57 billion, a P/E ratio of 11.48 and a beta of 1.40. Photronics, Inc. has a 52 week low of $18.03 and a 52 week high of $34.16.

Photronics (NASDAQ:PLAB) last issued its earnings results on Thursday, August 29th. The semiconductor company reported $0.51 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%. Photronics’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. As a group, 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.