Innealta Capital LLC Makes New Investment in Photronics, Inc. (NASDAQ:PLAB)

Innealta Capital LLC bought a new stake in Photronics, Inc. (NASDAQ:PLAB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,032 shares of the semiconductor company’s stock, valued at approximately $75,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. ICA Group Wealth Management LLC purchased a new stake in shares of Photronics during the fourth quarter valued at $25,000. GAMMA Investing LLC purchased a new stake in Photronics in the 4th quarter valued at about $40,000. Principal Securities Inc. bought a new position in Photronics in the 4th quarter worth about $57,000. Quest Partners LLC purchased a new position in shares of Photronics during the fourth quarter worth approximately $91,000. Finally, CWM LLC raised its stake in shares of Photronics by 155.2% during the second quarter. CWM LLC now owns 3,294 shares of the semiconductor company’s stock valued at $81,000 after acquiring an additional 2,003 shares in the last quarter. 88.38% of the stock is owned by institutional investors.

Photronics Stock Up 3.8 %

Shares of NASDAQ:PLAB opened at $25.86 on Friday. The business’s 50 day moving average is $24.56 and its 200 day moving average is $26.80. The stock has a market cap of $1.64 billion, a P/E ratio of 11.97 and a beta of 1.38. Photronics, Inc. has a 52-week low of $18.03 and a 52-week high of $34.16.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Thursday, August 29th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The firm had revenue of $211.00 million for the quarter, compared to the consensus estimate of $225.00 million. Photronics had a return on equity of 9.73% and a net margin of 15.14%. Photronics’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. On average, sell-side analysts anticipate that Photronics, Inc. will post 2.1 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.