Photronics, Inc. (NASDAQ:PLAB) Stock Position Raised by Algert Global LLC

Algert Global LLC increased its stake in Photronics, Inc. (NASDAQ:PLAB) by 17.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,562 shares of the semiconductor company’s stock after acquiring an additional 6,382 shares during the quarter. Algert Global LLC owned approximately 0.07% of Photronics worth $1,050,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Innealta Capital LLC purchased a new stake in Photronics in the 2nd quarter worth approximately $75,000. Palouse Capital Management Inc. purchased a new stake in shares of Photronics during the second quarter worth $75,000. CWM LLC boosted its position in Photronics by 155.2% during the second quarter. CWM LLC now owns 3,294 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 2,003 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Photronics in the first quarter valued at about $121,000. Finally, nVerses Capital LLC acquired a new position in Photronics in the 2nd quarter worth about $141,000. 88.38% of the stock is owned by institutional investors and hedge funds.

Photronics Trading Up 1.4 %

PLAB stock opened at $24.59 on Friday. The firm has a market cap of $1.56 billion, a PE ratio of 11.38 and a beta of 1.40. Photronics, Inc. has a 1 year low of $18.03 and a 1 year high of $34.16. The company has a fifty day simple moving average of $23.53 and a 200 day simple moving average of $25.78.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Photronics from a “hold” rating to a “buy” rating in a 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.