Exchange Traded Concepts LLC Acquires 11,292 Shares of Photronics, Inc. (NASDAQ:PLAB)

Exchange Traded Concepts LLC grew its position in Photronics, Inc. (NASDAQ:PLAB) by 25.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,682 shares of the semiconductor company’s stock after purchasing an additional 11,292 shares during the period. Exchange Traded Concepts LLC owned about 0.09% of Photronics worth $1,379,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP increased its stake in shares of Photronics by 223.4% in the second quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 1,816 shares in the last quarter. GAMMA Investing LLC lifted its stake in Photronics by 65.8% in the third quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after buying an additional 1,164 shares during the period. Innealta Capital LLC acquired a new stake in shares of Photronics in the 2nd quarter valued at approximately $75,000. Palouse Capital Management Inc. bought a new position in shares of Photronics during the second quarter worth $75,000. Finally, CWM LLC lifted its holdings in Photronics by 155.2% during the second quarter. CWM LLC now owns 3,294 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 2,003 shares in the last quarter. 88.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Photronics Stock Down 2.3 %

Shares of PLAB stock opened at $23.59 on Wednesday. Photronics, Inc. has a 12 month low of $18.03 and a 12 month high of $34.16. The company’s fifty day simple moving average is $23.64 and its 200-day simple moving average is $25.52. The firm has a market cap of $1.49 billion, a PE ratio of 10.92 and a beta of 1.40.

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

Photronics Company 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.