Brandywine Global Investment Management LLC Grows Stock Position in Photronics, Inc. (NASDAQ:PLAB)

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.

Photronics (NASDAQ:PLAB – Get Rating) last announced its quarterly earnings results on Wednesday, May 24th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.10. The company had revenue of $229.30 million during the quarter, compared to the consensus estimate of $211.00 million. Photronics had a return on equity of 11.09% and a net margin of 14.04%. Photronics’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. On average, analysts forecast that Photronics, Inc. will post 1.82 earnings per share for the current fiscal year.

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 Profile

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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.