International Assets Investment Management LLC Purchases 82,303 Shares of Photronics, Inc. (NASDAQ:PLAB)

International Assets Investment Management LLC grew its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 3,037.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 85,013 shares of the semiconductor company’s stock after buying an additional 82,303 shares during the period. International Assets Investment Management LLC’s holdings in Photronics were worth $2,710,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. LVZ Inc. raised its position in shares of Photronics by 11.8% during the 4th quarter. LVZ Inc. now owns 12,657 shares of the semiconductor company’s stock valued at $397,000 after buying an additional 1,331 shares in the last quarter. Mendota Financial Group LLC raised its position in shares of Photronics by 20.8% during the 4th quarter. Mendota Financial Group LLC now owns 6,125 shares of the semiconductor company’s stock valued at $192,000 after buying an additional 1,053 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Photronics during the 4th quarter valued at $323,000. Assenagon Asset Management S.A. raised its position in Photronics by 20.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 827,315 shares of the semiconductor company’s stock worth $25,953,000 after purchasing an additional 139,734 shares during the period. Finally, Pacer Advisors Inc. raised its position in Photronics by 64.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,397,983 shares of the semiconductor company’s stock worth $43,855,000 after purchasing an additional 547,510 shares during the period. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Photronics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 22nd.

Photronics Stock Down 1.6 %

Shares of NASDAQ:PLAB opened at $26.09 on Friday. The stock has a market cap of $1.65 billion, a PE ratio of 11.70 and a beta of 1.40. The company’s fifty day moving average is $29.02 and its 200 day moving average is $26.26. Photronics, Inc. has a 52 week low of $13.86 and a 52 week high of $34.16.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Photronics had a net margin of 15.34% and a return on equity of 10.37%. The firm had revenue of $216.30 million during the quarter, compared to analysts’ expectations of $220.00 million. During the same quarter in the previous year, the firm posted $0.40 EPS. Photronics’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts anticipate that Photronics, Inc. will post 2.15 EPS for the current year.

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.