Carmel Capital Partners LLC Grows Stock Holdings in Photronics, Inc. (NASDAQ:PLAB)

Carmel Capital Partners LLC lifted its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 815.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,663 shares of the semiconductor company’s stock after buying an additional 8,608 shares during the quarter. Carmel Capital Partners LLC’s holdings in Photronics were worth $303,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PLAB. US Bancorp DE increased its holdings in Photronics by 201.5% in the 2nd quarter. US Bancorp DE now owns 1,022 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 683 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Photronics in the 3rd quarter worth about $28,000. Tower Research Capital LLC TRC increased its holdings in shares of Photronics by 49.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,761 shares of the semiconductor company’s stock worth $36,000 after buying an additional 582 shares during the last quarter. Covestor Ltd increased its holdings in shares of Photronics by 587.5% in the 1st quarter. Covestor Ltd now owns 2,427 shares of the semiconductor company’s stock worth $41,000 after buying an additional 2,074 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in Photronics by 77.5% during the 1st quarter. Federated Hermes Inc. now owns 2,798 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 1,222 shares during the last quarter. 88.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Photronics Stock Down 3.0 %

NASDAQ:PLAB traded down $0.77 during mid-day trading on Friday, hitting $25.32. 429,580 shares of the stock traded hands, compared to its average volume of 325,329. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 11.35 and a beta of 1.40. Photronics, Inc. has a 52 week low of $13.86 and a 52 week high of $34.16. The firm’s 50 day moving average is $28.87 and its two-hundred day moving average is $26.33.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $216.30 million for the quarter, compared to the consensus estimate of $220.00 million. Photronics had a net margin of 15.34% and a return on equity of 10.37%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. As a group, research analysts predict that Photronics, Inc. will post 2.15 EPS 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.