Allspring Global Investments Holdings LLC increased its position in Photronics, Inc. (NASDAQ: PLAB – Get Rating) by 30.9% in the third 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 after purchasing an additional 6,059 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Photronics were valued at $375,000 at the end of the last reporting period.
Several other institutional investors have also recently made changes to their positions in PLAB. Raymond James & Associates purchased a new $219,000 stake in Photronics stock during the first quarter. Citigroup Inc. increased its stake in Photronics by 2.1% in the first quarter. Citigroup Inc. now owns 61,988 shares of the semiconductor company, valued at $1,052,000, after purchasing an additional 1,281 shares last quarter. MetLife Investment Management LLC increased its position in Photronics by 53.6% in the first quarter. MetLife Investment Management LLC now owns 32,418 shares of the $550,000 semiconductor company after purchasing an additional 11,313 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Photronics by 15.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 53,138 shares of the $902,000 semiconductor company after buying another 6,920 shares last quarter. Finally, BlackRock Inc. increased its holding in Photronics by 0.8% during the first quarter. BlackRock Inc. now owns 9,805,463 shares of the semiconductor company, valued at $166,400,000, after purchasing an additional 78,778 shares last quarter. Institutional investors own 90.41% of the company’s shares.
Wall Street analysts forecast growth
Separately, StockNews.com upgraded shares of Photronics to a “strong buy” rating from a “buy” rating on Friday, January 20th.
Performance of the Photronik share
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 cap of $1.15 billion, a P/E of 9.42 and a beta of 1.18.
Photronics (NASDAQ: PLAB – Get Rating) last issued its quarterly earnings data on Tuesday, December 13th. The semiconductor company reported earnings per share (EPS) of $0.60 for the quarter, beating analyst consensus estimates of $0.48 by $0.12. The company had revenue of $210.27 million for 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 forecast that Photronics, Inc. will post 1.99 EPS for the year to date.
Insider transactions at Photronics
In other news, Director Mitchell G. Tyson sold 2,000 shares of Photronics in a transaction on Thursday, December 1st. The shares sold at an average price of $18.94 for a total value of $37,880.00. Upon completion of the transaction, the Director now owns 58,379 shares of 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’s website. Company insiders own 3.70% of the company’s shares.
Photronics company profile
Photronics, Inc, together with its subsidiaries, is engaged in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe and internationally. The Company offers photomasks used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns to semiconductor wafers, FDP substrates, and various types of electrical and optical components.
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