Algert Global LLC Raises Stock Position in Photronics, Inc. (NASDAQ:PLAB)

Algert Global LLC increased its stake in Photronics, Inc. (NASDAQ:PLAB) by 39.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,182 shares of the semiconductor company’s stock after purchasing an additional 16,620 shares during the quarter. Algert Global LLC’s holdings in Photronics were worth $1,465,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLAB. Arizona State Retirement System boosted its stake in shares of Photronics by 3.1% during the 2nd quarter. Arizona State Retirement System now owns 17,735 shares of the semiconductor company’s stock worth $438,000 after acquiring an additional 530 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Photronics by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,145 shares of the semiconductor company’s stock worth $694,000 after acquiring an additional 563 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Photronics by 65.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 567 shares during the last quarter. US Bancorp DE boosted its stake in shares of Photronics by 137.2% during the 3rd quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 701 shares during the last quarter. Finally, Koss Olinger Consulting LLC boosted its stake in shares of Photronics by 4.3% during the 3rd quarter. Koss Olinger Consulting LLC now owns 18,714 shares of the semiconductor company’s stock worth $463,000 after acquiring an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Photronics Stock Performance

PLAB opened at $24.18 on Friday. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16. The firm’s fifty day moving average is $24.18 and its 200 day moving average is $24.73. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 10.65 and a beta of 1.40.

Photronics (NASDAQ:PLAB) last released its earnings results on Thursday, August 29th. The semiconductor company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). Photronics had a net margin of 16.22% and a return on equity of 9.46%. The firm had revenue of $211.00 million for the quarter, compared to analysts’ expectations of $225.00 million. During the same quarter last year, the firm posted $0.51 EPS. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, equities research analysts predict that Photronics, Inc. will post 2.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Photronics Company Profile

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.