Photronics, Inc. (NASDAQ:PLAB) Shares Purchased by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC raised its holdings in Photronics, Inc. (NASDAQ:PLAB) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,145 shares of the semiconductor company’s stock after acquiring an additional 563 shares during the period. SummerHaven Investment Management LLC’s holdings in Photronics were worth $694,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PLAB. ICA Group Wealth Management LLC purchased a new position in shares of Photronics during the 4th quarter worth approximately $25,000. Parkside Financial Bank & Trust lifted its holdings in Photronics by 571.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the semiconductor company’s stock worth $33,000 after buying an additional 897 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Photronics during the 4th quarter worth approximately $40,000. Principal Securities Inc. acquired a new stake in shares of Photronics in the 4th quarter valued at $57,000. Finally, Quest Partners LLC acquired a new stake in shares of Photronics in the 4th quarter valued at $91,000. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Photronics Price Performance

Shares of PLAB traded up $0.87 during midday trading on Friday, reaching $24.85. The stock had a trading volume of 43,272 shares, compared to its average volume of 507,686. Photronics, Inc. has a 1-year low of $18.03 and a 1-year high of $34.16. The company’s fifty day simple moving average is $24.59 and its two-hundred day simple moving average is $27.10. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 11.10 and a beta of 1.38.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.09). Photronics had a net margin of 15.14% and a return on equity of 9.73%. The firm had revenue of $217.00 million during the quarter, compared to analyst estimates of $231.00 million. During the same quarter in the previous year, the business posted $0.54 earnings per share. Photronics’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that Photronics, Inc. will post 2.1 earnings per share for the current year.

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.