Mackenzie Financial Corp Acquires New Shares in Photronics, Inc. (NASDAQ:PLAB)

Mackenzie Financial Corp acquired a new stake in Photronics, Inc. (NASDAQ:PLAB) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 31,352 shares of the semiconductor company’s stock, valued at approximately $984,000.

Other hedge funds have also bought and sold shares of the company. Orion Capital Management LLC purchased a new position in shares of Photronics during the 3rd quarter valued at $28,000. Spire Wealth Management purchased a new position in shares of Photronics during the 3rd quarter valued at $63,000. Mendota Financial Group LLC grew 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 purchasing an additional 1,053 shares in the last quarter. Arlington Trust Co LLC purchased a new position in shares of Photronics during the 4th quarter valued at $205,000. Finally, Lbmc Investment Advisors LLC purchased a new position in shares of Photronics during the 4th quarter valued at $210,000. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

Photronics Stock Performance

Shares of NASDAQ:PLAB opened at $27.76 on Friday. Photronics, Inc. has a 52-week low of $13.86 and a 52-week high of $34.16. The firm has a fifty day moving average of $28.39 and a 200 day moving average of $26.48. The firm has a market capitalization of $1.76 billion, a PE ratio of 12.45 and a beta of 1.40.

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

Analysts Set New Price Targets

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

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.