Photronics, Inc. (NASDAQ:PLAB) Shares Bought by US Bancorp DE

US Bancorp DE grew its stake in Photronics, Inc. (NASDAQ:PLAB) by 137.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,212 shares of the semiconductor company’s stock after purchasing an additional 701 shares during the period. US Bancorp DE’s holdings in Photronics were worth $30,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Russell Investments Group Ltd. raised its position in Photronics by 177.9% during the first quarter. Russell Investments Group Ltd. now owns 98,774 shares of the semiconductor company’s stock valued at $2,797,000 after acquiring an additional 63,228 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Photronics by 7.4% during the 1st 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. Vanguard Group Inc. lifted its stake in shares of Photronics by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,715,429 shares of the semiconductor company’s stock valued at $161,861,000 after purchasing an additional 265,533 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Photronics by 49.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 33,014 shares of the semiconductor company’s stock worth $935,000 after buying an additional 10,989 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in Photronics by 2.0% during the first quarter. Clearbridge Investments LLC now owns 546,708 shares of the semiconductor company’s stock valued at $15,483,000 after buying an additional 10,509 shares during the period. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Photronics Trading Up 0.9 %

Shares of PLAB stock opened at $23.86 on Tuesday. Photronics, Inc. has a 12-month low of $20.25 and a 12-month high of $34.16. The business’s 50 day moving average is $23.95 and its two-hundred day moving average is $24.92. The company has a market capitalization of $1.51 billion, a P/E ratio of 10.51 and a beta of 1.40.

Photronics (NASDAQ:PLAB) last announced its 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 return on equity of 9.46% and a net margin of 16.22%. The business had revenue of $211.00 million for the quarter, compared to analyst estimates of $225.00 million. During the same period in the previous year, the company earned $0.51 earnings per share. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, research analysts predict that Photronics, Inc. will post 2.08 earnings per share 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.