Photronics, Inc. (NASDAQ:PLAB) Stake Trimmed by State of Alaska Department of Revenue

Posted by on Oct 16th, 2023

State of Alaska Department of Revenue lowered its stake in Photronics, Inc. (NASDAQ:PLAB – Free Report) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,090 shares of the semiconductor company’s stock after selling 1,187 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.07% of Photronics worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its stake in Photronics by 217.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 65,168 shares of the semiconductor company’s stock valued at $1,681,000 after acquiring an additional 44,634 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Photronics by 13.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,800 shares of the semiconductor company’s stock valued at $846,000 after acquiring an additional 4,000 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Photronics during the 2nd quarter valued at about $131,000. ProShare Advisors LLC bought a new stake in shares of Photronics in the 1st quarter valued at approximately $190,000. Finally, Meros Investment Management LP grew its stake in shares of Photronics by 3.6% in the 1st quarter. Meros Investment Management LP now owns 523,643 shares of the semiconductor company’s stock valued at $8,682,000 after buying an additional 18,255 shares in the last quarter. Hedge funds and other institutional investors own 83.44% of the company’s stock.

Photronics Stock Performance

Shares of NASDAQ PLAB opened at $20.28 on Monday. The business has a fifty day simple moving average of $21.60 and a 200 day simple moving average of $20.91. The company has a current ratio of 4.05, a quick ratio of 3.76 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 10.56 and a beta of 1.21. Photronics, Inc. has a one year low of $13.86 and a one year high of $26.98.

Photronics (NASDAQ:PLAB – Get Free Report) last issued its earnings results on Wednesday, September 6th. The semiconductor company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $224.20 million during the quarter, compared to analyst estimates of $230.00 million. Photronics had a net margin of 13.48% and a return on equity of 10.72%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. Sell-side analysts expect that Photronics, Inc. will post 1.97 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Photronics in a research note on Thursday, October 5th. They issued a “buy” rating for the company.

Get Our Latest Analysis on PLAB

Photronics Company Profile

(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.

See Also

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.