Allspring Global Investments Holdings LLC Purchases 17,586 Shares of Photronics, Inc. (NASDAQ:PLAB)

Allspring Global Investments Holdings LLC boosted its position in Photronics, Inc. (NASDAQ:PLAB) by 62.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,706 shares of the semiconductor company’s stock after acquiring an additional 17,586 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of Photronics worth $1,434,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. First Dallas Securities Inc. bought a new position in shares of Photronics in the 3rd quarter valued at $716,000. Assenagon Asset Management S.A. boosted its stake in Photronics by 20.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 827,315 shares of the semiconductor company’s stock valued at $25,953,000 after buying an additional 139,734 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Photronics by 187.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 169,834 shares of the semiconductor company’s stock valued at $3,432,000 after acquiring an additional 110,792 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in Photronics during the third quarter worth about $422,000. Finally, American Century Companies Inc. lifted its holdings in shares of Photronics by 18.3% in the third quarter. American Century Companies Inc. now owns 1,029,747 shares of the semiconductor company’s stock worth $20,811,000 after acquiring an additional 159,393 shares during the last quarter. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Photronics Stock Performance

Shares of NASDAQ:PLAB opened at $25.68 on Tuesday. Photronics, Inc. has a 52-week low of $13.86 and a 52-week high of $34.16. The company has a market capitalization of $1.63 billion, a PE ratio of 11.52 and a beta of 1.40. The company has a fifty day moving average of $28.72 and a 200-day moving average of $26.42.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $216.30 million for the quarter, compared to the consensus estimate of $220.00 million. Photronics had a return on equity of 10.37% and a net margin of 15.34%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, equities analysts forecast that Photronics, Inc. will post 2.15 EPS for the current fiscal year.

Photronics 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.