Texas Permanent School Fund Acquires 918 Shares of Photronics, Inc. (NASDAQ:PLAB)

Texas Permanent School Fund lifted its position in shares of Photronics, Inc. (NASDAQ:PLABGet Rating) by 2.1% during the second quarter, HoldingsChannel reports. The firm owned 44,616 shares of the semiconductor company’s stock after buying an additional 918 shares during the quarter. Texas Permanent School Fund’s holdings in Photronics were worth $869,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd boosted its position in shares of Photronics by 587.5% during the first quarter. Covestor Ltd now owns 2,427 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 2,074 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Photronics during the second quarter worth $51,000. Federated Hermes Inc. boosted its position in shares of Photronics by 77.5% during the first quarter. Federated Hermes Inc. now owns 2,798 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 1,222 shares in the last quarter. National Bank of Canada FI bought a new position in shares of Photronics during the first quarter worth $48,000. Finally, Lazard Asset Management LLC bought a new position in shares of Photronics during the first quarter worth $59,000. 89.81% of the stock is owned by institutional investors.

Photronics Trading Up 1.2 %

PLAB opened at $19.02 on Monday. The stock has a market capitalization of $1.17 billion, a P/E ratio of 11.12 and a beta of 1.13. Photronics, Inc. has a 12 month low of $13.16 and a 12 month high of $25.81. The firm’s fifty day simple moving average is $16.04 and its 200 day simple moving average is $18.56. The company has a current ratio of 3.44, a quick ratio of 3.18 and a debt-to-equity ratio of 0.04.

Photronics (NASDAQ:PLABGet Rating) last posted its quarterly earnings data on Tuesday, August 30th. The semiconductor company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $219.90 million for the quarter, compared to analysts’ expectations of $210.00 million. Photronics had a net margin of 13.07% and a return on equity of 9.97%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. As a group, research analysts anticipate that Photronics, Inc. will post 1.84 EPS for the current fiscal year.

Insider Buying and Selling at Photronics

In other Photronics news, Director Mitchell G. Tyson sold 2,000 shares of Photronics stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $15.00, for a total value of $30,000.00. Following the sale, the director now directly owns 62,379 shares in the company, valued at approximately $935,685. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. StockNews.com cut shares of Photronics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 15th. DA Davidson cut their price objective on shares of Photronics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, August 31st.

About Photronics

(Get Rating)

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, Korea, Europe, China, and internationally. The company offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, FDP substrates, and other types of electrical and optical components.

Read More

Want to see what other hedge funds are holding PLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Photronics, Inc. (NASDAQ:PLABGet Rating).

Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

Receive News & Ratings for Photronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Photronics and related companies with MarketBeat.com's FREE daily email newsletter.