Algert Global LLC Purchases 16,620 Shares of Photronics, Inc. (NASDAQ:PLAB)

Algert Global LLC grew its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 39.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,182 shares of the semiconductor company’s stock after acquiring an additional 16,620 shares during the period. Algert Global LLC owned about 0.09% of Photronics worth $1,465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLAB. US Bancorp DE raised its stake in shares of Photronics by 137.2% during the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 701 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Photronics by 65.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 567 shares during the period. Quarry LP increased its position in shares of Photronics by 223.4% during 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 during the period. GAMMA Investing LLC increased its position in shares of Photronics by 65.8% during 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. Finally, Innealta Capital LLC purchased a new position in shares of Photronics during the second quarter valued at about $75,000. 88.38% of the stock is owned by institutional investors.

Photronics Stock Performance

Shares of PLAB opened at $24.18 on Friday. The stock has a market cap of $1.53 billion, a PE ratio of 10.65 and a beta of 1.40. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16. The firm’s 50-day simple moving average is $24.18 and its two-hundred day simple moving average is $24.73.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $225.00 million. During the same quarter last year, the company posted $0.51 EPS. Photronics’s revenue for the quarter was down 5.9% compared to the same quarter last year. Equities research analysts predict that Photronics, Inc. will post 2.08 EPS for the current year.

Analyst Ratings Changes

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

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.