American Century Companies Inc. Has $43.43 Million Stake in Photronics, Inc. $PLAB

American Century Companies Inc. lifted its holdings in shares of Photronics, Inc. (NASDAQ:PLAB - Free Report) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,306,176 shares of the semiconductor company's stock after purchasing an additional 109,909 shares during the quarter. American Century Companies Inc. owned 3.83% of Photronics worth $43,425,000 at the end of the most recent quarter.

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Several other institutional investors and hedge funds have also modified their holdings of the business. Rhumbline Advisers increased its stake in Photronics by 1.8% during the 2nd quarter. Rhumbline Advisers now owns 182,810 shares of the semiconductor company's stock worth $3,442,000 after purchasing an additional 3,231 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Photronics by 21.5% during the second quarter. JPMorgan Chase & Co. now owns 273,646 shares of the semiconductor company's stock worth $5,153,000 after acquiring an additional 48,342 shares during the period. Nierenberg Investment Management Company Inc. raised its holdings in shares of Photronics by 47.1% during the second quarter. Nierenberg Investment Management Company Inc. now owns 34,330 shares of the semiconductor company's stock worth $646,000 after acquiring an additional 11,000 shares during the period. LSV Asset Management lifted its position in Photronics by 17.2% in the 2nd quarter. LSV Asset Management now owns 2,607,874 shares of the semiconductor company's stock valued at $49,106,000 after acquiring an additional 383,355 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Photronics by 37.2% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 199,100 shares of the semiconductor company's stock worth $3,749,000 after purchasing an additional 54,000 shares during the period. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Photronics Stock Up 0.8%

NASDAQ:PLAB opened at $22.89 on Friday. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 13.00 and a beta of 1.55. Photronics, Inc. has a twelve month low of $16.46 and a twelve month high of $31.60. The stock's 50 day moving average price is $23.08 and its two-hundred day moving average price is $21.24.

• Photronics Stock Setting Up Next Leg Higher

Photronics (NASDAQ:PLAB - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The semiconductor company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.39 by $0.12. Photronics had a return on equity of 8.19% and a net margin of 12.67%.The company had revenue of $210.39 million during the quarter, compared to the consensus estimate of $204.30 million. During the same quarter in the prior year, the firm posted $0.51 EPS. The firm's revenue for the quarter was down .3% compared to the same quarter last year. As a group, analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current year.

Analyst Ratings Changes

PLAB has been the topic of several recent research reports. Zacks Research downgraded Photronics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 13th. Wall Street Zen upgraded Photronics from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Singular Research upgraded Photronics to a "strong-buy" rating in a research note on Thursday, September 4th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Photronics in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Photronics currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

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Get Our Latest Stock Analysis on Photronics

Insider Activity

In other news, Director Kang Jyh Lee sold 10,000 shares of the company's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $25.33, for a total value of $253,300.00. Following the sale, the director directly owned 513,350 shares of the company's stock, valued at approximately $13,003,155.50. This represents a 1.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Han Kyung Park sold 15,000 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $22.00, for a total transaction of $330,000.00. Following the completion of the sale, the senior vice president owned 103,000 shares of the company's stock, valued at $2,266,000. This trade represents a 12.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 82,750 shares of company stock valued at $1,953,800. 3.20% of the stock is owned by corporate insiders.

Photronics 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.

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