Los Angeles Capital Management LLC Has $1.12 Million Stake in Photronics, Inc. (NASDAQ:PLAB)

Posted by on Aug 5th, 2023

Los Angeles Capital Management LLC decreased its stake in shares of Photronics, Inc. (NASDAQ:PLAB – Free Report) by 4.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 67,381 shares of the semiconductor company’s stock after selling 2,971 shares during the period. Los Angeles Capital Management LLC owned 0.11% of Photronics worth $1,117,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. lifted its position in shares of Photronics by 2.1% in the 3rd quarter. BlackRock Inc. now owns 10,238,591 shares of the semiconductor company’s stock worth $149,689,000 after acquiring an additional 208,239 shares during the period. Vanguard Group Inc. increased its holdings in Photronics by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,730,787 shares of the semiconductor company’s stock valued at $69,165,000 after purchasing an additional 187,394 shares in the last quarter. State Street Corp increased its holdings in Photronics by 1.3% during the 2nd quarter. State Street Corp now owns 2,172,450 shares of the semiconductor company’s stock valued at $42,319,000 after purchasing an additional 27,683 shares in the last quarter. Morgan Stanley increased its holdings in Photronics by 1.5% during the 4th quarter. Morgan Stanley now owns 1,381,681 shares of the semiconductor company’s stock valued at $23,254,000 after purchasing an additional 20,938 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Photronics by 16.4% during the 4th quarter. Geode Capital Management LLC now owns 1,286,680 shares of the semiconductor company’s stock valued at $21,654,000 after purchasing an additional 181,133 shares in the last quarter. Institutional investors and hedge funds own 88.05% of the company’s stock.

Photronics Stock Down 0.8 %

NASDAQ PLAB opened at $25.79 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.59 and a current ratio of 3.89. Photronics, Inc. has a 52 week low of $13.86 and a 52 week high of $26.98. The stock has a fifty day moving average of $24.50 and a 200-day moving average of $19.49. The stock has a market capitalization of $1.61 billion, a P/E ratio of 12.96 and a beta of 1.18.

Photronics (NASDAQ:PLAB – Get Free Report) last announced its quarterly earnings data on Wednesday, May 24th. The semiconductor company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.10. Photronics had a return on equity of 11.09% and a net margin of 14.04%. The business had revenue of $229.30 million during the quarter, compared to analysts’ expectations of $211.00 million. During the same period in the previous year, the firm earned $0.49 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts forecast that Photronics, Inc. will post 2 EPS for the current year.

Analysts Set New Price Targets

PLAB has been the subject of several research reports. DA Davidson reissued a “buy” rating on shares of Photronics in a research note on Tuesday, April 11th. Northland Securities lifted their target price on Photronics from $18.00 to $21.00 in a research note on Thursday, May 25th. Finally, StockNews.com cut Photronics from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

About Photronics

(Free Report)

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. The company offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, FDP substrates, and various types of electrical and optical components.

Featured Articles

Want to see what other hedge funds are holding PLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Photronics, Inc. (NASDAQ:PLAB – Free Report).

Institutional Ownership by Quarter for Photronics (NASDAQ:PLAB)

Receive News & Ratings for Photronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Photronics and related companies with MarketBeat.com's FREE daily email newsletter.