International Assets Investment Management LLC Acquires 82,303 Shares of Photronics, Inc. (NASDAQ:PLAB)

International Assets Investment Management LLC increased its holdings in Photronics, Inc. (NASDAQ:PLAB) by 3,037.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,013 shares of the semiconductor company’s stock after purchasing 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 reporting period.

Other institutional investors also recently modified their holdings of the company. First Dallas Securities Inc. bought a new stake in shares of Photronics in the third quarter worth $716,000. Assenagon Asset Management S.A. boosted its position in Photronics by 20.3% during 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 last quarter. Jacobs Levy Equity Management Inc. boosted its position in Photronics by 187.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 169,834 shares of the semiconductor company’s stock valued at $3,432,000 after acquiring an additional 110,792 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in Photronics during the third quarter valued at $422,000. Finally, American Century Companies Inc. boosted its position in Photronics by 18.3% during the third quarter. American Century Companies Inc. now owns 1,029,747 shares of the semiconductor company’s stock valued at $20,811,000 after acquiring an additional 159,393 shares during the last quarter. Institutional investors own 88.38% of the company’s stock.

Analysts Set New Price Targets

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

Photronics Price Performance

PLAB stock opened at $26.09 on Friday. The stock has a market capitalization of $1.65 billion, a PE ratio of 11.70 and a beta of 1.40. The company’s 50-day moving average is $29.02 and its 200-day moving average is $26.26. Photronics, Inc. has a 1 year low of $13.86 and a 1 year high of $34.16.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data 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). The company had revenue of $216.30 million for the quarter, compared to the consensus estimate of $220.00 million. Photronics had a return on equity of 10.37% and a net margin of 15.34%. Photronics’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.40 EPS. On average, analysts anticipate that Photronics, Inc. will post 2.15 earnings per share for the current fiscal year.

Photronics Company 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.