Centiva Capital LP Buys Shares of 23,456 Photronics, Inc. (NASDAQ:PLAB)

Centiva Capital LP purchased a new position in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 23,456 shares of the semiconductor company's stock, valued at approximately $581,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in shares of Photronics by 17.2% during the second quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company's stock worth $61,252,000 after acquiring an additional 364,150 shares during the last quarter. LSV Asset Management increased its holdings in Photronics by 16.0% during the 2nd 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. American Century Companies Inc. raised its position in shares of Photronics by 12.8% in 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 purchasing an additional 191,809 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Photronics by 20.8% during the 2nd quarter. Victory Capital Management Inc. now owns 505,567 shares of the semiconductor company's stock valued at $12,472,000 after buying an additional 86,938 shares during the last quarter. Finally, Inspire Advisors LLC bought a new stake in shares of Photronics in the second quarter worth $2,112,000. Institutional investors and hedge funds own 88.38% of the company's stock.

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 traded up $0.99 during mid-day trading on Friday, reaching $25.25. The stock had a trading volume of 297,282 shares, compared to its average volume of 361,430. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 11.12 and a beta of 1.41. Photronics, Inc. has a 1-year low of $20.25 and a 1-year high of $34.16. The stock's 50 day simple moving average is $24.28 and its two-hundred day simple moving average is $24.53.

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.