Texas Permanent School Fund Corp Increases Stock Position in Photronics, Inc. (NASDAQ:PLAB)

Texas Permanent School Fund Corp increased its position in Photronics, Inc. (NASDAQ:PLAB) by 19.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,591 shares of the semiconductor company’s stock after buying an additional 10,800 shares during the period. Texas Permanent School Fund Corp owned about 0.10% of Photronics worth $1,618,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PLAB. ICA Group Wealth Management LLC acquired a new position in shares of Photronics in the fourth quarter valued at approximately $25,000. Principal Securities Inc. acquired a new position in shares of Photronics in the fourth quarter valued at approximately $57,000. Innealta Capital LLC acquired a new position in shares of Photronics in the second quarter valued at approximately $75,000. CWM LLC raised its position in shares of Photronics by 155.2% in the second quarter. CWM LLC now owns 3,294 shares of the semiconductor company’s stock valued at $81,000 after buying an additional 2,003 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Photronics in the fourth quarter valued at approximately $91,000. Institutional investors and hedge funds own 88.38% of the company’s stock.

Photronics Stock Performance

Shares of PLAB stock opened at $23.12 on Thursday. Photronics, Inc. has a one year low of $18.03 and a one year high of $34.16. The company has a 50 day moving average price of $24.07 and a 200 day moving average price of $26.15. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 10.70 and a beta of 1.40.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings results 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 return on equity of 9.46% and a net margin of 16.22%. The company had revenue of $211.00 million for the quarter, compared to analyst estimates of $225.00 million. During the same period last year, the company posted $0.51 EPS. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, equities analysts forecast that Photronics, Inc. will post 2.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Photronics from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th.

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.