Mirae Asset Global Investments Co. Ltd. Acquires 1,550 Shares of Photronics, Inc. (NASDAQ:PLAB)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Photronics, Inc. (NASDAQ:PLAB) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,905 shares of the semiconductor company’s stock after buying an additional 1,550 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Photronics were worth $875,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mendota Financial Group LLC raised its stake in shares of Photronics by 20.8% during the fourth quarter. Mendota Financial Group LLC now owns 6,125 shares of the semiconductor company’s stock worth $192,000 after buying an additional 1,053 shares during the last quarter. LVZ Inc. raised its stake in shares of Photronics by 11.8% during the fourth quarter. LVZ Inc. now owns 12,657 shares of the semiconductor company’s stock worth $397,000 after buying an additional 1,331 shares during the last quarter. Swiss National Bank raised its stake in shares of Photronics by 1.0% during the third quarter. Swiss National Bank now owns 137,400 shares of the semiconductor company’s stock worth $2,777,000 after buying an additional 1,400 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Photronics during the third quarter worth approximately $28,000. Finally, New York State Common Retirement Fund raised its stake in shares of Photronics by 4.1% during the third quarter. New York State Common Retirement Fund now owns 70,022 shares of the semiconductor company’s stock worth $1,415,000 after buying an additional 2,785 shares during the last quarter. 88.38% of the stock is owned by institutional investors.

Photronics Stock Performance

Shares of NASDAQ:PLAB opened at $26.96 on Wednesday. Photronics, Inc. has a 52 week low of $13.86 and a 52 week high of $34.16. The company has a market capitalization of $1.71 billion, a PE ratio of 12.09 and a beta of 1.40. The company has a 50 day moving average price of $28.63 and a two-hundred day moving average price of $26.46.

Photronics (NASDAQ:PLAB) last issued its 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). Photronics had a net margin of 15.34% and a return on equity of 10.37%. The firm had revenue of $216.30 million during the quarter, compared to the consensus estimate of $220.00 million. During the same period in the previous year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, sell-side analysts forecast that Photronics, Inc. will post 2.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.