Bank of America Corp DE Makes New Investment in Photronics, Inc. $PLAB

Key Points

• Bank of America initiated a Photronics stake, purchasing 217,404 shares worth approximately $7.1 million, or 0.37% of the company. Several other institutional investors also established positions during the second quarter.
• Photronics’ latest quarterly results exceeded expectations, with earnings of $0.50 per share versus the $0.40 consensus and revenue of $216.1 million. Revenue increased 2.7% year over year, and the company provided fourth-quarter EPS guidance of $0.40–$0.56.
• Analysts maintain a “Moderate Buy” consensus with a $49.33 target price, although ratings include both upgrades and a recent downgrade to “Hold.” The stock opened at $30.40 and remains well below its 52-week high of $56.00.

Bank of America Corp DE bought a new stake in Photronics, Inc. (NASDAQ:PLAB - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 217,404 shares of the semiconductor company's stock, valued at approximately $7,072,000. Bank of America Corp DE owned 0.37% of Photronics at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Man Group plc bought a new stake in shares of Photronics in the second quarter valued at approximately $400,000. Jupiter Topco LLC bought a new position in Photronics in the 2nd quarter worth approximately $879,000. Meros Investment Management LP purchased a new position in Photronics in the 2nd quarter valued at approximately $7,728,055. Hsbc Holdings PLC purchased a new position in Photronics in the 2nd quarter valued at approximately $801,000. Finally, Legal & General Group Plc bought a new stake in Photronics during the 2nd quarter valued at $4,356,000. Hedge funds and other institutional investors own 88.38% of the company's stock.

Insiders Place Their Bets

In other Photronics news, Director Kang Lee sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $29.70, for a total value of $297,000.00. Following the completion of the sale, the director owned 354,850 shares of the company's stock, valued at $10,539,045. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on PLAB shares. Zacks Research raised Photronics to a "hold" rating in a report on Friday, August 14th. Freedom Capital raised Photronics to a "strong-buy" rating in a report on Thursday, July 2nd. Weiss Ratings raised shares of Photronics from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, September 22nd. Finally, Wall Street Zen lowered shares of Photronics from a "buy" rating to a "hold" rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $49.33.

Photronics Stock Performance

NASDAQ:PLAB opened at $30.40 on Monday. Photronics, Inc. has a 52-week low of $20.05 and a 52-week high of $56.00. The stock has a fifty day moving average of $30.11 and a 200 day moving average of $36.11. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 10.70 and a beta of 1.35.

Photronics (NASDAQ:PLAB - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.10. The business had revenue of $216.05 million for the quarter, compared to the consensus estimate of $208.75 million. Photronics had a return on equity of 7.45% and a net margin of 19.05%.The company's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.51 earnings per share. Photronics has set its Q4 2026 guidance at 0.400-0.560 EPS. Equities analysts forecast that Photronics, Inc. will post 1.9 earnings per share for the current fiscal year.

About Photronics

Photronics, Inc NASDAQ: PLAB is a manufacturer of photomasks, precision photographic plates used in the semiconductor and flat-panel display manufacturing processes. Photomasks transfer circuit patterns onto silicon wafers and display substrates, making them an important component in the production of integrated circuits, memory devices, flat-panel displays and other electronic products.

The company provides photomasks for a range of semiconductor applications, including advanced logic, foundry and memory devices.

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