Photronics ( NASDAQ:PLAB ) narrowed the gap following weak earnings

Photronics, Inc. stock price (NASDAQ:PLAB – Get Free Report ) fell before the market opened on Thursday following a weaker-than-expected earnings announcement. The stock had previously closed at $24.08 but opened at $22.64. Photronics shares last traded at $24.55 with a volume of 104,970 shares.

The semiconductor company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). Photronics had a return on equity of 9.73% and a net margin of 15.14%. The firm had revenue of $211.00 million for the quarter, compared to analyst estimates of $225.00 million. In the same period last year, the company posted earnings of $0.51 per share. The company’s revenue for the quarter was down 5.9% year over year.

Institutional inputs and outputs

A number of institutional investors have recently made changes to their positions in PLAB. International Assets Investment Management LLC lifted its position in shares of Photronics by 3,037.0% in the fourth quarter. International Assets Investment Management LLC now owns 85,013 shares of the semiconductor company’s stock worth $2,710,000 after buying an additional 82,303 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Photronics in the fourth quarter valued at $40,000. Atria Wealth Solutions Inc. acquired a new stake in Photronics in the fourth quarter valued at $241,000. Victory Capital Management Inc. boosted its holdings in Photronics by 5.8% in the fourth quarter. Victory Capital Management Inc. now owns 137,854 shares of the semiconductor company’s stock valued at $4,324,000 after purchasing an additional 7,570 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in Photronics in the fourth quarter valued at $232,000. 88.38% of shares are owned by institutional investors and hedge funds.

Photoronic price performance

The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 11.97 and a beta of 1.38. The company’s fifty day moving average is $24.56 and its 200 day moving average is $26.80.

Photoronics Company Profile

(Get a free report)

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. Provides photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit designs to semiconductor wafers and FDP substrates.

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