Allspring Global Investments Holdings LLC Raises Position in Photronics, Inc. (NASDAQ:PLAB)

Allspring Global Investments Holdings LLC increased its holdings in Photronics, Inc. (NASDAQ:PLAB) by 208.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,855 shares of the semiconductor company’s stock after purchasing an additional 95,149 shares during the period. Allspring Global Investments Holdings LLC owned 0.22% of Photronics worth $3,989,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC acquired a new position in Photronics in the fourth quarter valued at $25,000. Parkside Financial Bank & Trust lifted its stake in shares of Photronics by 571.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,054 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 897 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Photronics during the 4th quarter worth about $40,000. Orion Capital Management LLC acquired a new stake in Photronics during the 3rd quarter worth approximately $28,000. Finally, Principal Securities Inc. purchased a new position in Photronics in the fourth quarter valued at approximately $57,000. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Photronics Stock Up 1.1 %

Shares of Photronics stock traded up $0.28 during trading hours on Tuesday, hitting $24.76. The company’s stock had a trading volume of 20,772 shares, compared to its average volume of 530,661. The company has a market capitalization of $1.57 billion, a PE ratio of 11.33 and a beta of 1.38. The business has a fifty day moving average of $26.89 and a 200 day moving average of $28.63. Photronics, Inc. has a 1-year low of $18.03 and a 1-year high of $34.16.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.09). The firm had revenue of $217.00 million during the quarter, compared to analyst estimates of $231.00 million. Photronics had a net margin of 15.14% and a return on equity of 9.73%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business earned $0.54 EPS. On average, sell-side analysts anticipate that Photronics, Inc. will post 2.1 earnings per share for the current fiscal year.

Photronics Company 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.