Meros Investment Management LP Boosts Position in Photronics, Inc. (NASDAQ:PLAB)

Meros Investment Management LP lifted its position in shares of Photronics, Inc. (NASDAQ:PLAB) by 5.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 476,395 shares of the semiconductor company’s stock after acquiring an additional 25,471 shares during the period. Photronics accounts for 5.4% of Meros Investment Management LP’s portfolio, making the stock its 4th biggest holding. Meros Investment Management LP owned about 0.75% of Photronics worth $11,796,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in Photronics by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock worth $43,217,000 after buying an additional 85,160 shares in the last quarter. M&T Bank Corp bought a new stake in Photronics during the 3rd quarter valued at $252,000. Barclays PLC boosted its position in Photronics by 297.2% during the 3rd quarter. Barclays PLC now owns 114,133 shares of the semiconductor company’s stock worth $2,826,000 after acquiring an additional 85,397 shares during the period. Hodges Capital Management Inc. grew its stake in shares of Photronics by 9.3% in the third quarter. Hodges Capital Management Inc. now owns 152,385 shares of the semiconductor company’s stock worth $3,773,000 after purchasing an additional 12,940 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Photronics by 0.4% during the third quarter. State Street Corp now owns 2,368,450 shares of the semiconductor company’s stock valued at $58,643,000 after purchasing an additional 10,590 shares during the period. Institutional investors and hedge funds own 88.38% of the company’s stock.

Photronics Price Performance

Photronics stock opened at $25.32 on Wednesday. Photronics, Inc. has a 12-month low of $20.25 and a 12-month high of $34.16. The stock has a market capitalization of $1.60 billion, a PE ratio of 11.15 and a beta of 1.41. The firm has a 50 day simple moving average of $24.30 and a 200-day simple moving average of $24.53.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Photronics from a “hold” rating to a “buy” rating in a report on Saturday, September 28th.

About Photronics

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.