Bank of Montreal Can grew its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 16.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 156,888 shares of the semiconductor company’s stock after buying an additional 22,152 shares during the period. Bank of Montreal Can’s holdings in Photronics were worth $1,518,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Founders Capital Management purchased a new position in Photronics during the 4th quarter worth $68,000. Verition Fund Management LLC purchased a new position in Photronics during the 3rd quarter worth $113,000. Captrust Financial Advisors purchased a new position in Photronics during the 3rd quarter worth $203,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Photronics during the 3rd quarter worth $213,000. Finally, Meeder Asset Management Inc. raised its position in Photronics by 145.5% during the 4th quarter. Meeder Asset Management Inc. now owns 22,336 shares of the semiconductor company’s stock worth $215,000 after buying an additional 13,238 shares during the last quarter. Institutional investors own 98.09% of the company’s stock.
A number of equities analysts have commented on PLAB shares. ValuEngine upgraded shares of Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, December 15th. Zacks Investment Research downgraded shares of Photronics from a “hold” rating to a “sell” rating in a report on Tuesday, January 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Photronics presently has an average rating of “Hold” and an average price target of $11.00.
Shares of PLAB opened at $11.27 on Thursday. The stock has a market capitalization of $718.13 million, a PE ratio of 19.43, a P/E/G ratio of 2.26 and a beta of 0.59. Photronics, Inc. has a 52-week low of $7.57 and a 52-week high of $11.34.
Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Wednesday, December 12th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $144.70 million during the quarter, compared to the consensus estimate of $137.20 million. Photronics had a net margin of 7.86% and a return on equity of 4.38%. The business’s revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 EPS. As a group, analysts forecast that Photronics, Inc. will post 0.47 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This news story was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this news story can be read at https://www.com-unik.info/2019/02/14/bank-of-montreal-can-has-1-52-million-holdings-in-photronics-inc-plab.html.
Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz or glass plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.
See Also: What is the Coverage Ratio?
Want to see what other hedge funds are holding PLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Photronics, Inc. (NASDAQ:PLAB).
Receive News & Ratings for Photronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Photronics and related companies with MarketBeat.com's FREE daily email newsletter.