Photronics, Inc. (NASDAQ:PLAB) Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its holdings in Photronics, Inc. (NASDAQ:PLABGet Rating) by 654.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,437 shares of the semiconductor company’s stock after acquiring an additional 22,935 shares during the period. Lazard Asset Management LLC’s holdings in Photronics were worth $514,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in Photronics by 587.5% in the first quarter. Covestor Ltd now owns 2,427 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 2,074 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Photronics by 77.5% in the first quarter. Federated Hermes Inc. now owns 2,798 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 1,222 shares during the last quarter. National Bank of Canada FI acquired a new position in Photronics in the first quarter valued at approximately $48,000. Nisa Investment Advisors LLC acquired a new position in Photronics in the second quarter valued at approximately $51,000. Finally, Point72 Hong Kong Ltd lifted its holdings in Photronics by 3,942.6% in the first quarter. Point72 Hong Kong Ltd now owns 7,398 shares of the semiconductor company’s stock valued at $126,000 after acquiring an additional 7,215 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on PLAB. StockNews.com cut Photronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 15th. DA Davidson decreased their price target on Photronics from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, August 31st.

Photronics Stock Up 1.2 %

NASDAQ:PLAB opened at $19.02 on Friday. The company has a quick ratio of 3.18, a current ratio of 3.44 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average is $16.04 and its two-hundred day moving average is $18.53. Photronics, Inc. has a 52 week low of $13.16 and a 52 week high of $25.81. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 11.12 and a beta of 1.13.

Photronics (NASDAQ:PLABGet Rating) last released its quarterly earnings results on Tuesday, August 30th. The semiconductor company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $219.90 million for the quarter, compared to analysts’ expectations of $210.00 million. Photronics had a return on equity of 9.97% and a net margin of 13.07%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 earnings per share. Research analysts anticipate that Photronics, Inc. will post 1.84 EPS for the current year.

Insider Activity

In other news, Director Mitchell G. Tyson sold 2,000 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $15.00, for a total value of $30,000.00. Following the sale, the director now directly owns 62,379 shares in the company, valued at $935,685. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.70% of the company’s stock.

Photronics Company Profile

(Get Rating)

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, Korea, Europe, China, and internationally. The company offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, FDP substrates, and other types of electrical and optical components.

See Also

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Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

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