EMC Capital Management Raises Stock Position in Photronics, Inc. (NASDAQ:PLAB)

EMC Capital Management raised its holdings in Photronics, Inc. (NASDAQ:PLAB) by 45.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,053 shares of the semiconductor company’s stock after purchasing an additional 4,984 shares during the quarter. EMC Capital Management’s holdings in Photronics were worth $397,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLAB. Vanguard Group Inc. lifted its holdings in shares of Photronics by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,715,429 shares of the semiconductor company’s stock valued at $161,861,000 after buying an additional 265,533 shares during the period. Pacer Advisors Inc. boosted its position in Photronics by 17.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company’s stock worth $61,252,000 after purchasing an additional 364,150 shares in the last quarter. LSV Asset Management grew its stake in shares of Photronics by 16.0% during the 2nd quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock worth $49,094,000 after purchasing an additional 275,082 shares during the period. American Century Companies Inc. increased its holdings in shares of Photronics by 12.8% during the 2nd quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock valued at $41,560,000 after purchasing an additional 191,809 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Photronics by 225.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 840,538 shares of the semiconductor company’s stock valued at $23,805,000 after purchasing an additional 582,664 shares during the period. 88.38% of the stock is owned by institutional investors and hedge funds.

Photronics Stock Up 1.7 %

Shares of Photronics stock opened at $23.18 on Friday. The firm has a market cap of $1.47 billion, a PE ratio of 10.21 and a beta of 1.40. Photronics, Inc. has a twelve month low of $18.57 and a twelve month high of $34.16. The business has a 50-day moving average price of $23.77 and a 200 day moving average price of $25.14.

Photronics (NASDAQ:PLAB) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.51 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $225.00 million. During the same period in the previous year, the company earned $0.51 earnings per share. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, sell-side analysts expect that Photronics, Inc. will post 2.08 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th.

About Photronics

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.