Brandywine Global Investment Management LLC Acquires 12,617 Shares of Photronics, Inc. (NASDAQ:PLAB)

Posted by John Perry on May 26th, 2023

Brandywine Global Investment Management LLC boosted its holdings in shares of Photronics, Inc. (NASDAQ:PLAB – Get Rating) by 8.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 161,818 shares of the semiconductor company’s stock after buying an additional 12,617 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.26% of Photronics worth $2,723,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Photronics by 2.1% during the third quarter. BlackRock Inc. now owns 10,238,591 shares of the semiconductor company’s stock worth $149,689,000 after purchasing an additional 208,239 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Photronics by 4.1% in the third quarter. Vanguard Group Inc. now owns 4,730,787 shares of the semiconductor company’s stock worth $69,165,000 after buying an additional 187,394 shares during the period. State Street Corp increased its holdings in shares of Photronics by 1.3% in the second quarter. State Street Corp now owns 2,172,450 shares of the semiconductor company’s stock worth $42,319,000 after buying an additional 27,683 shares during the period. Prudential Financial Inc. increased its holdings in shares of Photronics by 48.4% in the third quarter. Prudential Financial Inc. now owns 1,473,074 shares of the semiconductor company’s stock worth $21,536,000 after buying an additional 480,125 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in shares of Photronics by 7.6% in the third quarter. Two Sigma Advisers LP now owns 911,698 shares of the semiconductor company’s stock worth $13,329,000 after buying an additional 64,100 shares during the period. Institutional investors own 90.41% of the company’s stock.

Photronics Stock Up 10.3 %

PLAB stock opened at $20.25 on Friday. Photronics, Inc. has a fifty-two week low of $13.86 and a fifty-two week high of $25.81. The business’s 50 day moving average price is $15.81 and its two-hundred day moving average price is $17.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 3.89. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 10.18 and a beta of 1.18.

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

Analyst Ratings Changes

PLAB has been the topic of several analyst reports. StockNews.com initiated coverage on Photronics in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Northland Securities boosted their price target on Photronics from $18.00 to $21.00 in a report on Thursday. Finally, DA Davidson restated a “buy” rating on shares of Photronics in a report on Tuesday, April 11th.

About Photronics

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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.