Photronics, Inc. (NASDAQ:PLAB) Shares Acquired by Fmr LLC

FMR LLC grew its holdings in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 36.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 135,208 shares of the semiconductor company's stock after buying an additional 35,825 shares during the quarter. FMR LLC owned 0.21% of Photronics worth $3,348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Arizona State Retirement System increased its position in shares of Photronics by 3.1% in the second quarter. Arizona State Retirement System now owns 17,735 shares of the semiconductor company's stock valued at $438,000 after buying an additional 530 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of Photronics by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 28,145 shares of the semiconductor company's stock worth $694,000 after purchasing an additional 563 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Photronics by 65.4% during the third 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. US Bancorp DE increased its position in shares of Photronics by 137.2% during the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 701 shares in the last quarter. Finally, Koss Olinger Consulting LLC increased its position in shares of Photronics by 4.3% during the third quarter. Koss Olinger Consulting LLC now owns 18,714 shares of the semiconductor company's stock worth $463,000 after purchasing an additional 780 shares in the last quarter. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on PLAB shares. StockNews.com upgraded Photronics from a "hold" rating to a "buy" rating in a research report on Saturday, September 28th. DA Davidson boosted their price target on Photronics from $32.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday.

Photronics Trading Up 0.8 %

NASDAQ PLAB traded up $0.22 on Friday, reaching $26.49. 552,645 shares of the company were exchanged, compared to its average volume of 487,890. The business's fifty day moving average price is $24.48 and its 200 day moving average price is $24.54. The stock has a market capitalization of $1.68 billion, a P/E ratio of 12.67 and a beta of 1.41. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16.

Photronics (NASDAQ:PLAB - Get Free Report) last released its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.07. The company had revenue of $222.60 million for the quarter, compared to analyst estimates of $218.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. Equities research analysts forecast that Photronics, Inc. will post 2.2 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.