EMC Capital Management Grows Stake in Photronics, Inc. (NASDAQ:PLAB)

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE increased its stake in Photronics by 137.2% in the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 701 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Photronics by 65.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 567 shares during the last quarter. Quarry LP boosted its stake in Photronics by 223.4% in the second quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,816 shares in the last quarter. GAMMA Investing LLC grew its holdings in Photronics by 65.8% in the third quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock worth $73,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Photronics during the second quarter worth $75,000. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Photronics Stock Performance

Shares of PLAB stock opened at $23.18 on Friday. Photronics, Inc. has a fifty-two week low of $18.57 and a fifty-two week high of $34.16. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 10.21 and a beta of 1.40. The stock’s 50-day simple moving average is $23.77 and its 200-day simple moving average is $25.14.

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 the consensus estimate of $0.56 by ($0.05). The company had revenue of $211.00 million for the quarter, compared to analysts’ expectations of $225.00 million. Photronics had a return on equity of 9.46% and a net margin of 16.22%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. As a group, equities analysts forecast that Photronics, Inc. will post 2.08 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com upgraded Photronics from a “hold” rating to a “buy” rating in a research note 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.