Mirae Asset Global Investments Co. Ltd. Has $875,000 Stock Holdings in Photronics, Inc. (NASDAQ:PLAB)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 5.9% in the 4th quarter, Holdings Channel reports. The firm owned 27,905 shares of the semiconductor company’s stock after acquiring an additional 1,550 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Photronics were worth $875,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in Photronics by 3,037.0% during the 4th quarter. International Assets Investment Management LLC now owns 85,013 shares of the semiconductor company’s stock worth $2,710,000 after purchasing an additional 82,303 shares during the last quarter. LVZ Inc. raised its holdings in Photronics by 11.8% during the 4th quarter. LVZ Inc. now owns 12,657 shares of the semiconductor company’s stock worth $397,000 after purchasing an additional 1,331 shares during the last quarter. Mendota Financial Group LLC raised its holdings in Photronics by 20.8% during the 4th quarter. Mendota Financial Group LLC now owns 6,125 shares of the semiconductor company’s stock worth $192,000 after purchasing an additional 1,053 shares during the last quarter. Ritholtz Wealth Management bought a new position in Photronics during the 4th quarter worth approximately $323,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Photronics by 20.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 827,315 shares of the semiconductor company’s stock valued at $25,953,000 after acquiring an additional 139,734 shares in the last quarter. Institutional investors own 88.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Photronics Stock Up 5.0 %

NASDAQ:PLAB opened at $26.96 on Wednesday. The company has a fifty day moving average of $28.63 and a 200-day moving average of $26.46. The firm has a market capitalization of $1.71 billion, a P/E ratio of 12.09 and a beta of 1.40. Photronics, Inc. has a twelve month low of $13.86 and a twelve month 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 for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $216.30 million during the quarter, compared to the consensus estimate of $220.00 million. Photronics had a net margin of 15.34% and a return on equity of 10.37%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, analysts anticipate 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.