Connor Clark & Lunn Investment Management Ltd. Purchases New Holdings in Photronics, Inc. $PLAB

Key Points

• Connor Clark & Lunn Investment Management bought 150,058 Photronics shares worth approximately $4.9 million, while institutional investors collectively own 88.38% of the company.
• Photronics exceeded quarterly expectations with EPS of $0.50 versus $0.40 forecast and revenue of $216.1 million versus $208.8 million expected; revenue grew 2.7% year over year.
• Management issued fourth-quarter guidance of $207 million–$227 million in revenue and $0.40–$0.56 in non-GAAP EPS. Analysts maintain an overall “Buy” rating with a consensus price target of $49.33, although a securities class-action lawsuit and reported insider selling present risks.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Photronics, Inc. (NASDAQ:PLAB - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 150,058 shares of the semiconductor company's stock, valued at approximately $4,881,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.25% of Photronics as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PLAB. Kendall Capital Management acquired a new stake in shares of Photronics during the 2nd quarter worth approximately $1,432,000. Hudson Portfolio Management LLC acquired a new position in shares of Photronics in the second quarter valued at $500,000. Evolve Private Wealth LLC acquired a new position in shares of Photronics in the second quarter valued at $516,000. Long Corridor Asset Management Ltd bought a new position in Photronics in the second quarter worth $3,578,000. Finally, Heartland Advisors Inc. bought a new position in Photronics in the second quarter worth $12,355,000. Institutional investors own 88.38% of the company's stock.

Photronics Trading Up 0.0%

Shares of PLAB opened at $30.26 on Friday. The stock has a market cap of $1.78 billion, a PE ratio of 10.65 and a beta of 1.38. Photronics, Inc. has a 1 year low of $20.05 and a 1 year high of $56.00. The stock has a 50 day simple moving average of $30.76 and a 200-day simple moving average of $37.40.

Photronics (NASDAQ:PLAB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.40 by $0.10. Photronics had a return on equity of 7.45% and a net margin of 19.05%.The business had revenue of $216.05 million for the quarter, compared to analyst estimates of $208.75 million. During the same quarter in the previous year, the firm earned $0.51 EPS. Photronics's quarterly revenue was up 2.7% on a year-over-year basis. Photronics has set its Q4 2026 guidance at 0.400-0.560 EPS. On average, sell-side analysts forecast that Photronics, Inc. will post 1.85 EPS for the current fiscal year.

More Photronics News

Here are the key news stories impacting Photronics this week:

• Positive Sentiment: Q3 earnings and revenue beat estimates. Photronics reported adjusted EPS of $0.50 versus the $0.40 consensus estimate and revenue of approximately $216.1 million versus expectations of $208.8 million. Revenue increased 2.7% year over year, while GAAP diluted EPS was $0.49. Photronics Reports Third Quarter 2026 Results
• Positive Sentiment: Higher-end chip-mask demand showed improvement. Management said delayed semiconductor design releases recovered during the quarter, helping results, while high-end integrated-circuit products reached a record 44% of IC revenue. IC revenue rose 5% year over year and sequentially to $154.7 million. Photronics Q3 Earnings Call Highlights High-End IC Recovery
• Positive Sentiment: Fourth-quarter guidance indicates continued demand resilience. Photronics forecast revenue of $207 million to $227 million and non-GAAP EPS of $0.40 to $0.56. The midpoint of the revenue outlook is broadly in line with analyst expectations, while the EPS midpoint is above the consensus estimate cited in the reports.
• Neutral Sentiment: Institutional positioning is mixed. Recent filings showed some large investors increasing holdings while others reduced exposure. The company ended the quarter with approximately $672.8 million in cash, cash equivalents and short-term investments, providing financial flexibility.
• Negative Sentiment: Several law firms publicized a securities class action against Photronics. The case covers investors who purchased shares between December 10, 2025, and May 27, 2026, and alleges that the company and certain officers made misleading disclosures about bottlenecks and demand in its high-end IC photomask business. The allegations have not been proven. The lead-plaintiff deadline is September 4, 2026. Photronics Class Action Deadline Pomerantz Investor Alert
• Negative Sentiment: Reported insider activity may temper sentiment. Data cited in the coverage showed 27 open-market insider sales and no purchases during the past six months, including sales by senior executives. While such transactions may reflect personal or compensation-related decisions, the absence of insider buying is a cautionary signal for investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLAB. Weiss Ratings reiterated a "hold (c+)" rating on shares of Photronics in a research note on Friday, July 24th. Lake Street Capital restated a "buy" rating and issued a $55.00 price objective on shares of Photronics in a research note on Friday, May 1st. Zacks Research raised shares of Photronics to a "hold" rating in a report on Friday, August 14th. Craig Hallum reiterated a "buy" rating on shares of Photronics in a research report on Friday, May 29th. Finally, Freedom Capital raised shares of Photronics to a "strong-buy" rating in a research note on Thursday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $49.33.

About Photronics

Photronics, Inc is a leading global supplier of photomask products used in the manufacture of integrated circuits, flat panel displays, microelectromechanical systems (MEMS), and advanced packaging applications. Photomasks, also known as reticles, are critical templates that carry the precise circuit patterns required for semiconductor lithography processes. The company offers a comprehensive range of mask solutions, including binary masks, attenuated phase-shift masks, reticles for micro-optics, and specialized products for high‐resolution applications.

Founded in 1969 and headquartered in Brookfield, Connecticut, Photronics has grown through organic expansion and strategic investments in high‐end lithography technology.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.