Martingale Asset Management L P Has $2.37 Million Position in Photronics, Inc. (NASDAQ:PLAB)

Martingale Asset Management L P grew its holdings in Photronics, Inc. (NASDAQ:PLAB) by 3.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 95,548 shares of the semiconductor company’s stock after acquiring an additional 3,496 shares during the period. Martingale Asset Management L P’s holdings in Photronics were worth $2,366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. US Bancorp DE raised its position in Photronics by 137.2% in the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 701 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Photronics by 65.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after buying an additional 567 shares in the last quarter. Quarry LP lifted its position in shares of Photronics by 223.4% during the 2nd quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock worth $65,000 after buying an additional 1,816 shares during the period. GAMMA Investing LLC boosted its stake in Photronics by 65.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after buying an additional 1,164 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in Photronics in the second quarter valued at $75,000. 88.38% of the stock is owned by institutional investors.

Photronics Stock Up 3.0 %

Shares of PLAB stock opened at $24.91 on Friday. The company has a market capitalization of $1.58 billion, a P/E ratio of 10.97 and a beta of 1.40. Photronics, Inc. has a 12-month low of $20.25 and a 12-month high of $34.16. The firm has a 50-day moving average price of $24.21 and a 200 day moving average price of $24.67.

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

Analyst Upgrades and Downgrades

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

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.