International Assets Investment Management LLC Grows Stock Holdings in Photronics, Inc. (NASDAQ:PLAB)

International Assets Investment Management LLC lifted its position in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) by 3,037.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 85,013 shares of the semiconductor company's stock after acquiring an additional 82,303 shares during the quarter. International Assets Investment Management LLC owned approximately 0.14% of Photronics worth $2,710,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. LVZ Inc. grew its position in shares of Photronics by 11.8% in the fourth quarter. LVZ Inc. now owns 12,657 shares of the semiconductor company's stock valued at $397,000 after purchasing an additional 1,331 shares in the last quarter. Mendota Financial Group LLC lifted its holdings in shares of Photronics by 20.8% in the fourth quarter. Mendota Financial Group LLC now owns 6,125 shares of the semiconductor company's stock worth $192,000 after buying an additional 1,053 shares in the last quarter. Ritholtz Wealth Management bought a new position in shares of Photronics in the fourth quarter valued at approximately $323,000. Assenagon Asset Management S.A. boosted its position in shares of Photronics by 20.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 827,315 shares of the semiconductor company's stock valued at $25,953,000 after acquiring an additional 139,734 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Photronics by 64.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,397,983 shares of the semiconductor company's stock valued at $43,855,000 after acquiring an additional 547,510 shares in the last quarter. Hedge funds and other institutional investors own 88.38% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Photronics from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 22nd.

Photronics Stock Down 3.0 %

NASDAQ:PLAB traded down $0.77 during trading hours on Friday, hitting $25.32. 429,570 shares of the company's stock traded hands, compared to its average volume of 566,926. The firm has a market cap of $1.60 billion, a P/E ratio of 11.35 and a beta of 1.40. The business's fifty day simple moving average is $29.02 and its two-hundred day simple moving average is $26.26. Photronics, Inc. has a 52 week low of $13.86 and a 52 week high of $34.16.

Photronics (NASDAQ:PLAB - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.01). Photronics had a net margin of 15.34% and a return on equity of 10.37%. The business had revenue of $216.30 million for the quarter, compared to the consensus estimate of $220.00 million. During the same quarter last year, the business posted $0.40 EPS. The business's revenue was up 2.5% compared to the same quarter last year. On average, analysts expect that Photronics, Inc. will post 2.15 EPS for the current year.

About Photronics

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.