Intech Investment Management LLC Increases Stock Holdings in Photronics, Inc. (NASDAQ:PLAB)

Intech Investment Management LLC increased its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 28.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 23,196 shares of the semiconductor company’s stock after acquiring an additional 5,120 shares during the quarter. Intech Investment Management LLC’s holdings in Photronics were worth $574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in Photronics by 5.4% in the 1st quarter. Janus Henderson Group PLC now owns 149,828 shares of the semiconductor company’s stock valued at $4,243,000 after buying an additional 7,708 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Photronics during the first quarter valued at approximately $216,000. 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 during the period. Linden Thomas Advisory Services LLC boosted its position in Photronics by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 79,810 shares of the semiconductor company’s stock worth $1,969,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Annex Advisory Services LLC grew its stake in Photronics by 27.5% in the 2nd quarter. Annex Advisory Services LLC now owns 21,366 shares of the semiconductor company’s stock valued at $527,000 after purchasing an additional 4,609 shares during the period. 88.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Photronics Stock Up 3.0 %

PLAB opened at $24.91 on Monday. Photronics, Inc. has a twelve month low of $20.25 and a twelve month high of $34.16. The company’s 50-day moving average price is $24.21 and its two-hundred day moving average price is $24.64. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 10.97 and a beta of 1.40.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.05). Photronics had a net margin of 16.22% and a return on equity of 9.46%. The firm had revenue of $211.00 million during the quarter, compared to analysts’ expectations of $225.00 million. During the same quarter in the previous year, the company posted $0.51 EPS. Photronics’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Photronics, Inc. will post 2.08 earnings per share for the current 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.