Needham Investment Management LLC Raises Stock Position in Photronics, Inc. (NASDAQ:PLAB)

Needham Investment Management LLC increased its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 6.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 762,500 shares of the semiconductor company’s stock after purchasing an additional 48,200 shares during the period. Photronics accounts for about 1.4% of Needham Investment Management LLC’s holdings, making the stock its 20th biggest holding. Needham Investment Management LLC owned approximately 1.20% of Photronics worth $18,880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC boosted its position in Photronics by 11.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 228,950 shares of the semiconductor company’s stock valued at $5,648,000 after buying an additional 23,449 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Photronics by 4.9% in the third quarter. Victory Capital Management Inc. now owns 530,401 shares of the semiconductor company’s stock valued at $13,133,000 after purchasing an additional 24,834 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Photronics during the 3rd quarter valued at approximately $730,000. Inspire Advisors LLC purchased a new stake in Photronics during the 2nd quarter worth approximately $2,112,000. Finally, Farther Finance Advisors LLC raised its holdings in Photronics by 21.9% in the third quarter. Farther Finance Advisors LLC now owns 5,930 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 1,066 shares in the last quarter. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th.

Photronics Stock Performance

Shares of Photronics stock traded up $0.43 on Tuesday, reaching $25.34. 373,615 shares of the company were exchanged, compared to its average volume of 364,964. Photronics, Inc. has a 1-year low of $20.25 and a 1-year high of $34.16. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 11.16 and a beta of 1.41. The company’s 50-day moving average is $24.24 and its two-hundred day moving average is $24.62.

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.