Engineers Gate Manager LP Invests $1.29 Million in Photronics, Inc. $PLAB

Key Points

• Engineers Gate Manager LP acquired 39,600 Photronics shares worth approximately $1.29 million, giving it a 0.07% stake. Institutional investors collectively own 88.38% of the company.
• Analysts maintain a generally positive outlook, with Photronics holding a consensus “Moderate Buy” rating and an average price target of $49.33.
• Photronics recently exceeded quarterly expectations, reporting $0.50 in EPS versus the $0.40 estimate and revenue of $216.05 million, up 2.7% year over year.

Engineers Gate Manager LP acquired a new stake in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 39,600 shares of the semiconductor company's stock, valued at approximately $1,288,000. Engineers Gate Manager LP owned about 0.07% of Photronics at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Integrated Wealth Concepts LLC bought a new position in shares of Photronics in the 2nd quarter valued at about $40,000. NewEdge Advisors LLC purchased a new position in Photronics in the second quarter worth about $60,000. Nykredit A S bought a new stake in Photronics during the second quarter worth approximately $89,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Photronics during the 2nd quarter valued at $379,000. Finally, Lone Peak Global Investors LLC lifted its position in Photronics by 1,253.7% in the second quarter. Lone Peak Global Investors LLC now owns 225,085 shares of the semiconductor company's stock worth $7,322,000 after buying an additional 208,458 shares during the last quarter. Hedge funds and other institutional investors own 88.38% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PLAB shares. Freedom Capital upgraded Photronics to a "strong-buy" rating in a report on Thursday, July 2nd. Wall Street Zen upgraded Photronics from a "hold" rating to a "buy" rating in a research note on Saturday, September 12th. Zacks Research raised shares of Photronics to a "hold" rating in a research report on Friday, August 14th. Craig Hallum restated a "buy" rating on shares of Photronics in a research note on Friday, May 29th. Finally, Weiss Ratings lowered shares of Photronics from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Photronics presently has a consensus rating of "Moderate Buy" and an average price target of $49.33.

Photronics Stock Up 2.4%

Shares of PLAB stock opened at $28.51 on Friday. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 10.04 and a beta of 1.35. Photronics, Inc. has a 52-week low of $20.05 and a 52-week high of $56.00. The company's 50 day moving average is $30.03 and its 200 day moving average is $36.34.

Photronics (NASDAQ:PLAB - Get Free Report) last posted its earnings results on Wednesday, August 26th. The semiconductor company reported $0.50 earnings per share (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 company 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 earnings per share. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. Photronics has set its Q4 2026 guidance at 0.400-0.560 EPS. Analysts anticipate that Photronics, Inc. will post 1.85 EPS for the current fiscal year.

Photronics Company Profile

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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