Allspring Global Investments Holdings LLC Purchases 6,059 Shares of Photronics, Inc. (NASDAQ:PLAB)

Allspring Global Investments Holdings LLC lifted its position in Photronics, Inc. (NASDAQ:PLAB – Get Rating) by 30.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,662 shares of the semiconductor company’s stock after acquiring an additional 6,059 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Photronics were worth $375,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PLAB. Raymond James & Associates bought a new stake in shares of Photronics in the 1st quarter worth $219,000. Citigroup Inc. grew its stake in shares of Photronics by 2.1% in the 1st quarter. Citigroup Inc. now owns 61,988 shares of the semiconductor company’s stock worth $1,052,000 after acquiring an additional 1,281 shares in the last quarter. MetLife Investment Management LLC grew its position in Photronics by 53.6% during the first quarter. MetLife Investment Management LLC now owns 32,418 shares of the semiconductor company’s stock valued at $550,000 after buying an additional 11,313 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Photronics by 15.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 53,138 shares of the semiconductor company’s stock worth $902,000 after buying an additional 6,920 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in Photronics by 0.8% during the first quarter. BlackRock Inc. now owns 9,805,463 shares of the semiconductor company’s stock worth $166,400,000 after buying an additional 78,778 shares during the last quarter. Institutional investors own 90.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Photronics from a “buy” rating to a “strong-buy” rating in a report on Friday, January 20th.

Photronics Stock Performance

NASDAQ PLAB opened at $18.66 on Wednesday. Photronics, Inc. has a 52-week low of $13.87 and a 52-week high of $25.81. The company has a 50-day simple moving average of $17.87 and a 200 day simple moving average of $18.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.06 and a current ratio of 3.33. The company has a market capitalization of $1.15 billion, a PE ratio of 9.42 and a beta of 1.18.

Photronics (NASDAQ:PLAB – Get Rating) last posted its quarterly earnings data on Tuesday, December 13th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.12. The business had revenue of $210.27 million during the quarter, compared to the consensus estimate of $210.00 million. Photronics had a net margin of 14.70% and a return on equity of 11.46%. On average, research analysts predict that Photronics, Inc. will post 1.99 EPS for the current year.

Insider Transactions at Photronics

In other news, Director Mitchell G. Tyson sold 2,000 shares of Photronics stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $18.94, for a total value of $37,880.00. Following the completion of the transaction, the director now owns 58,379 shares in the company, valued at $1,105,698.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Photronics Company Profile

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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. 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 various types of electrical and optical components.