State Street Corp Grows Stock Position in Photronics, Inc. (NASDAQ:PLAB)

State Street Corp boosted its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,368,450 shares of the semiconductor company’s stock after purchasing an additional 10,590 shares during the quarter. State Street Corp owned approximately 3.74% of Photronics worth $58,643,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in shares of Photronics by 4.9% during the third quarter. Victory Capital Management Inc. now owns 530,401 shares of the semiconductor company’s stock worth $13,133,000 after buying an additional 24,834 shares during the period. FMR LLC increased its position in shares of Photronics by 36.0% in the 3rd quarter. FMR LLC now owns 135,208 shares of the semiconductor company’s stock valued at $3,348,000 after purchasing an additional 35,825 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Photronics in the 3rd quarter valued at $730,000. Inspire Advisors LLC purchased a new stake in shares of Photronics during the 2nd quarter worth $2,112,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Photronics by 21.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,930 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 1,066 shares during the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.

Wall Street Analyst Weigh In

PLAB has been the topic of a number of analyst reports. StockNews.com upgraded Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th. DA Davidson increased their price objective on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, December 12th.

Photronics Trading Down 5.0 %

PLAB stock opened at $24.91 on Thursday. The stock has a market cap of $1.58 billion, a P/E ratio of 11.92 and a beta of 1.41. Photronics, Inc. has a twelve month low of $20.25 and a twelve month high of $34.16. The company’s 50 day moving average is $24.59 and its two-hundred day moving average is $24.51.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The firm had revenue of $222.60 million for the quarter, compared to analyst estimates of $218.00 million. During the same period last year, the business earned $0.60 EPS. Photronics’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities research analysts predict that Photronics, Inc. will post 2.3 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.