Photronics, Inc. (NASDAQ:PLAB) CEO Sells $213,500.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 8,750 shares of Photronics stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $24.40, for a total transaction of $213,500.00. Following the completion of the transaction, the chief executive officer now directly owns 572,100 shares in the company, valued at $13,959,240. The trade was a 1.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Kang Jyh Lee also recently made the following trade(s):

• On Monday, January 6th, Kang Jyh Lee sold 10,000 shares of Photronics stock. The stock was sold at an average price of $25.02, for a total transaction of $250,200.00.
• On Thursday, January 2nd, Kang Jyh Lee sold 17,500 shares of Photronics stock. The shares were sold at an average price of $24.10, for a total transaction of $421,750.00.
• On Tuesday, December 24th, Kang Jyh Lee sold 17,500 shares of Photronics stock. The stock was sold at an average price of $24.00, for a total value of $420,000.00.
• On Thursday, December 19th, Kang Jyh Lee sold 20,000 shares of Photronics stock. The shares were sold at an average price of $25.27, for a total value of $505,400.00.

Photronics Stock Down 1.9 %

Shares of NASDAQ:PLAB opened at $24.10 on Wednesday. Photronics, Inc. has a 52 week low of $20.25 and a 52 week high of $34.16. The company has a 50-day moving average price of $24.62 and a 200 day moving average price of $24.30. The company has a market cap of $1.53 billion, a P/E ratio of 11.53 and a beta of 1.39.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The business had revenue of $222.60 million during the quarter, compared to analysts’ expectations of $218.00 million. During the same period last year, the firm earned $0.60 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. Analysts expect that Photronics, Inc. will post 2.3 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PLAB. StockNews.com raised Photronics from a “hold” rating to a “buy” rating in a report on Saturday, September 28th. DA Davidson boosted their price objective on shares of Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 12th.

Hedge Funds Weigh In On Photronics

A number of institutional investors and hedge funds have recently made changes to their positions in PLAB. US Bancorp DE boosted its holdings in Photronics by 137.2% during the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after buying an additional 701 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Photronics by 65.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 567 shares during the period. Quarry LP boosted its stake in shares of Photronics by 223.4% during the 2nd quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,816 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Photronics by 65.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock worth $73,000 after acquiring an additional 1,164 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Photronics in the 3rd quarter valued at approximately $112,000. 88.38% of the stock is owned by institutional investors and hedge funds.

Photronics Company 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.