Easterly Investment Partners LLC Purchases 62,201 Shares of Photronics, Inc. (NASDAQ:PLAB)

Easterly Investment Partners LLC increased its holdings in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 17.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 411,188 shares of the semiconductor company's stock after buying an additional 62,201 shares during the quarter. Easterly Investment Partners LLC owned about 0.65% of Photronics worth $10,181,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its position in Photronics by 177.9% in the first quarter. Russell Investments Group Ltd. now owns 98,774 shares of the semiconductor company's stock worth $2,797,000 after purchasing an additional 63,228 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Photronics by 19.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 308,856 shares of the semiconductor company's stock valued at $8,746,000 after buying an additional 49,331 shares in the last quarter. LSV Asset Management lifted its position in shares of Photronics by 13.7% during the 1st quarter. LSV Asset Management now owns 1,714,964 shares of the semiconductor company's stock valued at $48,568,000 after buying an additional 207,049 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Photronics by 11.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 228,950 shares of the semiconductor company's stock valued at $5,648,000 after buying an additional 23,449 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Photronics by 41.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 72,251 shares of the semiconductor company's stock valued at $2,046,000 after buying an additional 21,109 shares in the last quarter. 88.38% of the stock is currently owned by institutional investors.

Photronics Price Performance

Shares of PLAB stock traded down $0.46 during trading hours on Friday, reaching $25.49. 323,868 shares of the company traded hands, compared to its average volume of 487,611. Photronics, Inc. has a 12-month low of $19.41 and a 12-month high of $34.16. The company has a market cap of $1.61 billion, a P/E ratio of 11.23 and a beta of 1.40. The firm has a 50-day moving average price of $23.80 and a 200 day moving average price of $25.09.

Photronics (NASDAQ:PLAB - Get Free Report) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.05). Photronics had a return on equity of 9.46% and a net margin of 16.22%. The business had revenue of $211.00 million during the quarter, compared to analysts' expectations of $225.00 million. During the same period in the prior year, the firm posted $0.51 earnings per share. The firm's revenue for the quarter was down 5.9% on a year-over-year basis. Sell-side analysts predict that Photronics, Inc. will post 2.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Photronics from a "hold" rating to a "buy" rating in a research report on Saturday, September 28th.

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.