Pacer Advisors Inc. Increases Stock Position in Photronics, Inc. (NASDAQ:PLAB)

Pacer Advisors Inc. lifted its position in Photronics, Inc. (NASDAQ:PLAB) by 17.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,482,856 shares of the semiconductor company’s stock after purchasing an additional 364,150 shares during the quarter. Pacer Advisors Inc. owned about 3.92% of Photronics worth $61,252,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Photronics by 225.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 840,538 shares of the semiconductor company’s stock worth $23,805,000 after acquiring an additional 582,664 shares during the last quarter. LSV Asset Management increased its position in Photronics by 16.0% in the second quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock worth $49,094,000 after purchasing an additional 275,082 shares during the last quarter. Vanguard Group Inc. raised its stake in Photronics by 4.9% during the first 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 in the last quarter. American Century Companies Inc. lifted its position in Photronics by 12.8% during the second quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock valued at $41,560,000 after purchasing an additional 191,809 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. lifted its position in Photronics by 500.0% during the first quarter. Hussman Strategic Advisors Inc. now owns 126,000 shares of the semiconductor company’s stock valued at $3,568,000 after purchasing an additional 105,000 shares during the last quarter. 88.38% of the stock is owned by institutional investors.

Photronics Price Performance

Shares of PLAB stock opened at $23.37 on Friday. The company has a market cap of $1.48 billion, a PE ratio of 10.82 and a beta of 1.40. The stock’s 50 day simple moving average is $23.96 and its two-hundred day simple moving average is $26.08. Photronics, Inc. has a 1 year low of $18.03 and a 1 year high of $34.16.

Photronics (NASDAQ:PLAB) last released its quarterly 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). The company had revenue of $211.00 million for the quarter, compared to analysts’ expectations of $225.00 million. Photronics had a net margin of 16.22% and a return on equity of 9.46%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 EPS. Equities research analysts expect that Photronics, Inc. will post 2.08 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Photronics from a “buy” rating to a “hold” rating in a research report on Friday.

About Photronics

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.