Brandywine Global Investment Management LLC lifted its stake in Photronics, Inc. (NASDAQ:PLAB – Get Rating) by 8.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 161,818 shares of the semiconductor company’s stock after purchasing an additional 12,617 shares during the period. Brandywine Global Investment Management LLC’s holdings in Photronics were worth $2,723,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PLAB. Covestor Ltd increased its holdings in shares of Photronics by 587.5% in the first quarter. Covestor Ltd now owns 2,427 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 2,074 shares during the last quarter. Lansing Street Advisors acquired a new stake in Photronics during the fourth quarter worth $44,000. Federated Hermes Inc. increased its stake in Photronics by 77.5% during the first quarter. Federated Hermes Inc. now owns 2,798 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 1,222 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Photronics during the first quarter worth $59,000. Finally, Newbridge Financial Services Group Inc. increased its stake in Photronics by 59.9% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,672 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 1,375 shares during the last quarter. Institutional investors and hedge funds own 90.41% of the company’s stock.
Photronics Stock Up 10.3 %
Shares of NASDAQ PLAB opened at $20.25 on Friday. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 10.18 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.89 and a quick ratio of 3.25. The business has a 50-day moving average of $15.81 and a two-hundred day moving average of $17.16. Photronics, Inc. has a 1 year low of $13.86 and a 1 year high of $25.81.
Analysts Set New Price Targets
Several research firms have recently commented on PLAB. Northland Securities raised their price target on Photronics from $18.00 to $21.00 in a research report on Thursday. StockNews.com initiated coverage on Photronics in a report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, DA Davidson reiterated a “buy” rating on shares of Photronics in a report on Tuesday, April 11th.
Photronics, Inc engages in the provision of photomasks. It manufactures semiconductors and flat-panel displays and is used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during the fabrication of integrated circuits, a variety of FPDs and other types of electrical and optical components.
- Get a free copy of the StockNews.com research report on Photronics (PLAB)
- 3 Electrical Gear Makers: Hidden Gems Amid Growing Digitization
- Can ULTA’s Defensive Product Line Stand Against This Down Cycle
- A Reversal Is Brewing For Medtronic: Buying The Dip
- Ralph Lauren’s Styled Dividend Is Still In Season
- Dollar Tree Falls As Theft Cuts Into Bottom Line
Want to see what other hedge funds are holding PLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Photronics, Inc. (NASDAQ:PLAB – Get Rating).
Receive News & Ratings for Photronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Photronics and related companies with MarketBeat.com's FREE daily email newsletter.