Campbell & CO Investment Adviser LLC purchased a new stake in shares of Photronics, Inc. (NASDAQ:PLAB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,081 shares of the semiconductor company’s stock, valued at approximately $168,000.
A number of other large investors also recently added to or reduced their stakes in PLAB. Invesco Ltd. boosted its stake in shares of Photronics by 32.9% in the first quarter. Invesco Ltd. now owns 945,222 shares of the semiconductor company’s stock worth $9,698,000 after acquiring an additional 234,130 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Photronics in the second quarter worth about $4,098,000. Wedge Capital Management L L P NC boosted its stake in shares of Photronics by 6.7% in the second quarter. Wedge Capital Management L L P NC now owns 1,440,378 shares of the semiconductor company’s stock worth $16,031,000 after acquiring an additional 90,575 shares during the period. Rhumbline Advisers boosted its stake in shares of Photronics by 4.5% in the first quarter. Rhumbline Advisers now owns 235,993 shares of the semiconductor company’s stock worth $2,421,000 after acquiring an additional 10,206 shares during the period. Finally, Eagle Asset Management Inc. bought a new position in shares of Photronics in the first quarter worth about $3,252,000. 92.28% of the stock is owned by institutional investors and hedge funds.
Shares of Photronics stock opened at $11.88 on Friday. Photronics, Inc. has a 12 month low of $8.31 and a 12 month high of $16.75. The company has a current ratio of 3.08, a quick ratio of 2.71 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $11.25 and a 200 day moving average of $12.02. The firm has a market cap of $779.59 million, a PE ratio of 23.29 and a beta of 0.79.
Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Wednesday, May 27th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Photronics had a net margin of 5.47% and a return on equity of 3.58%. The company had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $147.63 million. During the same quarter last year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts forecast that Photronics, Inc. will post 0.6 earnings per share for the current fiscal year.
In other Photronics news, EVP Christopher J. Progler sold 12,870 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $11.02, for a total transaction of $141,827.40. Following the sale, the executive vice president now directly owns 119,733 shares in the company, valued at $1,319,457.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.82% of the company’s stock.
A number of equities analysts have recently weighed in on PLAB shares. ValuEngine lowered Photronics from a “hold” rating to a “sell” rating in a research note on Thursday, July 2nd. Zacks Investment Research raised Photronics from a “sell” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus lowered Photronics from a “buy” rating to a “hold” rating and dropped their price target for the company from $15.00 to $13.00 in a research note on Monday, June 22nd. Finally, BidaskClub raised Photronics from a “sell” rating to a “hold” rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Photronics presently has an average rating of “Hold” and an average price target of $16.00.
Photronics Company Profile
Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz or glass plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.
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