Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee Sells 20,000 Shares

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 20,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $25.27, for a total transaction of $505,400.00. Following the completion of the sale, the chief executive officer now owns 524,600 shares of the company’s stock, valued at $13,256,642. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Photronics Trading Down 1.5 %

Photronics stock traded down $0.37 during midday trading on Friday, hitting $24.04. 2,343,371 shares of the stock were exchanged, compared to its average volume of 497,189. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 11.50 and a beta of 1.41. The stock’s 50-day simple moving average is $24.60 and its 200 day simple moving average is $24.51.

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

Institutional Investors Weigh In On Photronics

Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE increased its position 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 purchasing an additional 701 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Photronics by 65.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 567 shares during the last quarter. Quarry LP increased its position in shares of Photronics by 223.4% during the second quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,816 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Photronics by 65.8% during the third quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after acquiring an additional 1,164 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Photronics during the second quarter valued at about $75,000. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. DA Davidson increased their target price on shares of Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. StockNews.com upgraded shares of Photronics from a “hold” rating to a “buy” rating in a research 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.