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

Meeder Asset Management Inc. lifted its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 36.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,119 shares of the semiconductor company’s stock after purchasing an additional 9,571 shares during the period. Meeder Asset Management Inc. owned about 0.06% of Photronics worth $894,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in Photronics by 177.9% during the 1st quarter. Russell Investments Group Ltd. now owns 98,774 shares of the semiconductor company’s stock worth $2,797,000 after buying an additional 63,228 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Photronics by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 12,345 shares of the semiconductor company’s stock valued at $350,000 after acquiring an additional 848 shares during the period. Vanguard Group Inc. raised its position in Photronics by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 5,715,429 shares of the semiconductor company’s stock valued at $161,861,000 after purchasing an additional 265,533 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Photronics by 49.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 33,014 shares of the semiconductor company’s stock worth $935,000 after purchasing an additional 10,989 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Photronics by 2.0% in the first quarter. Clearbridge Investments LLC now owns 546,708 shares of the semiconductor company’s stock valued at $15,483,000 after purchasing an additional 10,509 shares during the period. 88.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Photronics Stock Performance

Shares of PLAB opened at $23.94 on Wednesday. The stock has a market capitalization of $1.52 billion, a P/E ratio of 10.55 and a beta of 1.40. The company’s fifty day moving average is $23.99 and its two-hundred day moving average is $24.89. Photronics, Inc. has a 1 year low of $20.25 and a 1 year high of $34.16.

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