Photronics, Inc. (NASDAQ:PLAB) Shares Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. grew its stake in shares of Photronics, Inc. (NASDAQ:PLAB) by 36.1% in the third quarter, Holdings Channel.com reports. The fund owned 36,119 shares of the semiconductor company’s stock after purchasing an additional 9,571 shares during the period. Meeder Asset Management Inc.’s holdings in Photronics were worth $894,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Photronics by 4.9% during the first quarter. Vanguard Group Inc. now owns 5,715,429 shares of the semiconductor company’s stock worth $161,861,000 after purchasing an additional 265,533 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Photronics by 17.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company’s stock worth $61,252,000 after buying an additional 364,150 shares in the last quarter. LSV Asset Management grew its stake in Photronics by 16.0% in the 2nd quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock valued at $49,094,000 after acquiring an additional 275,082 shares during the last quarter. American Century Companies Inc. increased its holdings in Photronics by 12.8% during the 2nd quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock valued at $41,560,000 after acquiring an additional 191,809 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Photronics by 225.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 840,538 shares of the semiconductor company’s stock worth $23,805,000 after acquiring an additional 582,664 shares during the last quarter. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Photronics Stock Performance

Photronics stock opened at $23.94 on Wednesday. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 10.55 and a beta of 1.40. The stock has a fifty day moving average of $23.99 and a two-hundred day moving average of $24.89.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The company had revenue of $211.00 million for the quarter, compared to analysts’ expectations of $225.00 million. Photronics had a return on equity of 9.46% and a net margin of 16.22%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 EPS. On average, analysts forecast that Photronics, Inc. will post 2.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Photronics from a “hold” rating to a “buy” rating in a research 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.