Photronics, Inc. (NASDAQ:PLAB) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System raised its holdings in Photronics, Inc. (NASDAQ:PLAB – Get Rating) by 3.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 17,382 shares of the semiconductor company’s stock after acquiring an additional 607 shares during the period. Arizona State Retirement System’s holdings in Photronics were worth $293,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Covestor Ltd grew its position in shares of Photronics by 587.5% in the first quarter. Covestor Ltd now owns 2,427 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 2,074 shares during the period. Lansing Street Advisors purchased a new stake in Photronics in the 4th quarter valued at about $44,000. Federated Hermes Inc. increased its stake in shares of Photronics by 77.5% during the 1st quarter. Federated Hermes Inc. now owns 2,798 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 1,222 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Photronics during the 1st quarter worth about $59,000. Finally, Newbridge Financial Services Group Inc. boosted its position in shares of Photronics by 59.9% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,672 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 1,375 shares during the last quarter. Hedge funds and other institutional investors own 90.41% of the company’s stock.

Photronics Stock Performance

Shares of PLAB stock opened at $17.12 on Tuesday. The company has a current ratio of 3.52, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.07 billion, a PE ratio of 9.36 and a beta of 1.18. The company’s fifty day simple moving average is $15.68 and its 200-day simple moving average is $17.12. Photronics, Inc. has a 52 week low of $13.86 and a 52 week high of $25.81.

Photronics (NASDAQ:PLAB – Get Rating) last released its quarterly earnings data on Monday, February 20th. The semiconductor company reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. Photronics had a return on equity of 11.20% and a net margin of 13.26%. The company had revenue of $211.09 million for the quarter, compared to analyst estimates of $194.00 million. During the same period last year, the company posted $0.38 earnings per share. As a group, equities research analysts anticipate that Photronics, Inc. will post 1.82 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on PLAB. StockNews.com began coverage on shares of Photronics in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Northland Securities cut Photronics from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, DA Davidson restated a “buy” rating on shares of Photronics in a research note on Tuesday, April 11th.

Photronics Profile

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Photronics, Inc engages in the provision of photomasks. It manufactures semiconductors and flat-panel displays and is used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during the fabrication of integrated circuits, a variety of FPDs and other types of electrical and optical components.