Creative Planning Takes $250,000 Position in Photronics, Inc. (NASDAQ:PLAB)

Creative Planning purchased a new position in Photronics, Inc. (NASDAQ:PLAB) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 10,089 shares of the semiconductor company’s stock, valued at approximately $250,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Photronics by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,715,429 shares of the semiconductor company’s stock worth $161,861,000 after purchasing an additional 265,533 shares in the last quarter. Pacer Advisors Inc. raised its position in Photronics by 17.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company’s stock worth $61,252,000 after buying an additional 364,150 shares during the last quarter. LSV Asset Management lifted its stake in Photronics by 16.0% during the 2nd quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock valued at $49,094,000 after acquiring an additional 275,082 shares during the period. American Century Companies Inc. boosted its holdings in shares of Photronics by 12.8% during the 2nd quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock valued at $41,560,000 after acquiring an additional 191,809 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Photronics by 225.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 840,538 shares of the semiconductor company’s stock valued at $23,805,000 after acquiring an additional 582,664 shares during the last quarter. 88.38% of the stock is owned by hedge funds and other institutional investors.

Photronics Price Performance

NASDAQ PLAB opened at $25.49 on Monday. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 11.23 and a beta of 1.40. Photronics, Inc. has a 1-year low of $19.41 and a 1-year high of $34.16. The business’s fifty day moving average price is $23.80 and its 200-day moving average price is $25.08.

Photronics (NASDAQ:PLAB) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.05). Photronics had a return on equity of 9.46% and a net margin of 16.22%. The firm had revenue of $211.00 million during the quarter, compared to analysts’ expectations of $225.00 million. During the same period in the previous year, the business posted $0.51 earnings per share. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. Equities research analysts anticipate that Photronics, Inc. will post 2.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th.

About Photronics

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.