Steelhead Partners adds Photronics (PLAB) to its portfolio

Photronics (PLAB) : Steelhead Partners added new position in Photronics during the most recent quarter end. The investment management firm now holds 96,431 shares of Photronics which is valued at $951,774 , the company said in a statement filed on Aug 15, 2016 with the SEC.Photronics makes up approximately 0.91% of Steelhead Partners’s portfolio.

Other Hedge Funds, Including , Millennium Management reduced its stake in PLAB by selling 190,418 shares or 18.17% in the most recent quarter. The Hedge Fund company now holds 857,337 shares of PLAB which is valued at $8,461,916. Photronics makes up approx 0.02% of Millennium Management’s portfolio.Blackrock Fund Advisors boosted its stake in PLAB in the latest quarter, The investment management firm added 1,405 additional shares and now holds a total of 1,688,675 shares of Photronics which is valued at $16,667,222. Tradewinds Global Investors added PLAB to its portfolio by purchasing 32,167 company shares during the most recent quarter which is valued at $317,488. Photronics makes up approx 0.02% of Tradewinds Global Investors’s portfolio.Royce Associates Lp reduced its stake in PLAB by selling 71,300 shares or 5.67% in the most recent quarter. The Hedge Fund company now holds 1,187,160 shares of PLAB which is valued at $11,586,682. Photronics makes up approx 0.07% of Royce Associates Lp’s portfolio.Lombardia Capital Partners boosted its stake in PLAB in the latest quarter, The investment management firm added 891,580 additional shares and now holds a total of 1,107,238 shares of Photronics which is valued at $10,817,715. Photronics makes up approx 0.79% of Lombardia Capital Partners’s portfolio.

Photronics opened for trading at $9.55 and hit $9.645 on the upside on Thursday, eventually ending the session at $9.58, with a gain of 0.21% or 0.02 points. The heightened volatility saw the trading volume jump to 2,31,167 shares. Company has a market cap of $653 M.

On the company’s financial health, Photronics reported $0.12 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 18, 2016. Analyst had a consensus of $0.14. The company had revenue of $123.20 million for the quarter, compared to analysts expectations of $123.54 million. The company’s revenue was down -6.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.17 EPS.

Many Wall Street Analysts have commented on Photronics. Shares were Reiterated by Needham on May 19, 2016 to “Buy” and Lowered the Price Target to $ 12 from a previous price target of $13 .

Photronics Inc. (Photronics) is a manufacturer of photo masks. The Company offers services across the full spectrum of integrated chip (IC) production and flat panel display (FPD) technologies by manufacturing photomasks using electron beam or optical (laser-based) systems. The Company operates from nine manufacturing facilities; two of which are located in Europe two in Taiwan one in Korea and three in the United States. The Company primarily sells its products to leading semiconductor and FPD manufacturers. In addition to the sales personnel at the Company’s manufacturing facilities the Company has sales offices in the United States Europe and Asia. The Company supports international customers through both its domestic and international facilities.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *