US Bancorp DE Boosts Holdings in Photronics, Inc. (NASDAQ:PLAB)

US Bancorp DE grew its position in Photronics, Inc. (NASDAQ:PLAB) by 137.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,212 shares of the semiconductor company’s stock after purchasing an additional 701 shares during the quarter. US Bancorp DE’s holdings in Photronics were worth $30,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in shares of Photronics by 65.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 567 shares in the last quarter. Quarry LP boosted its holdings in Photronics by 223.4% in the second quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,816 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Photronics by 65.8% during the third quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock worth $73,000 after acquiring an additional 1,164 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Photronics during the second quarter valued at about $75,000. Finally, Palouse Capital Management Inc. purchased a new position in shares of Photronics in the 2nd quarter valued at approximately $75,000. 88.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Photronics Price Performance

NASDAQ PLAB opened at $23.86 on Tuesday. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 10.51 and a beta of 1.40. The stock’s fifty day moving average price is $23.95 and its 200 day moving average price is $24.92. Photronics, Inc. has a 1 year low of $20.25 and a 1 year high of $34.16.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data 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). 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 analyst estimates of $225.00 million. During the same period in the prior year, the company posted $0.51 earnings per share. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. Research analysts expect that Photronics, Inc. will post 2.08 earnings per share for the current year.

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.