Palouse Capital Management Inc. bought a new position in shares of Photronics, Inc. (NASDAQ:PLAB – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,057 shares of the semiconductor company’s stock, valued at approximately $75,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in Photronics by 225.9% during 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 purchasing an additional 582,664 shares in the last quarter. LSV Asset Management increased its holdings in shares of Photronics by 16.0% during the second quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock worth $49,094,000 after buying an additional 275,082 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Photronics by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,715,429 shares of the semiconductor company’s stock valued at $161,861,000 after acquiring an additional 265,533 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Photronics by 12.8% during the 2nd quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock valued at $41,560,000 after acquiring an additional 191,809 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. grew its position in Photronics by 500.0% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 126,000 shares of the semiconductor company’s stock worth $3,568,000 after acquiring an additional 105,000 shares during the last quarter. Institutional investors own 88.38% of the company’s stock.
Photronics Price Performance
PLAB opened at $23.12 on Thursday. Photronics, Inc. has a fifty-two week low of $18.03 and a fifty-two week high of $34.16. The company’s 50 day moving average price is $24.07 and its two-hundred day moving average price is $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.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised Photronics from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th.
View Our Latest Stock Report on Photronics
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.
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