Semanteon Capital Management LP Buys New Holdings in Photronics, Inc. (NASDAQ:PLAB)

Semanteon Capital Management LP bought a new stake in Photronics, Inc. (NASDAQ:PLAB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 37,181 shares of the semiconductor company’s stock, valued at approximately $1,166,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLAB. Orion Capital Management LLC acquired a new position in Photronics in the third quarter valued at $28,000. Parkside Financial Bank & Trust boosted its holdings in Photronics by 571.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 897 shares during the last quarter. GAMMA Investing LLC acquired a new position in Photronics in the fourth quarter valued at $40,000. Spire Wealth Management acquired a new position in Photronics in the third quarter valued at $63,000. Finally, Mendota Financial Group LLC boosted its holdings in Photronics by 20.8% in the fourth quarter. Mendota Financial Group LLC now owns 6,125 shares of the semiconductor company’s stock valued at $192,000 after acquiring an additional 1,053 shares during the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Photronics Trading Up 0.9 %

NASDAQ:PLAB traded up $0.25 during mid-day trading on Thursday, hitting $27.76. The company had a trading volume of 279,783 shares, compared to its average volume of 555,231. The business has a fifty day simple moving average of $28.39 and a 200-day simple moving average of $26.48. Photronics, Inc. has a 1 year low of $13.86 and a 1 year high of $34.16. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 12.45 and a beta of 1.40.

Photronics (NASDAQ:PLAB) last announced its earnings results 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). Photronics had a return on equity of 10.37% and a net margin of 15.34%. The business had revenue of $216.30 million for the quarter, compared to analysts’ expectations of $220.00 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, research analysts anticipate that Photronics, Inc. will post 2.15 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.