Insider Selling: Photronics, Inc. (NASDAQ:PLAB) SVP Sells $267,750.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) SVP Han Kyung Park sold 11,250 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $23.80, for a total value of $267,750.00. Following the completion of the sale, the senior vice president now directly owns 102,500 shares in the company, valued at $2,439,500. The trade was a 9.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Photronics Price Performance

Shares of NASDAQ PLAB opened at $23.92 on Monday. Photronics, Inc. has a 1 year low of $20.25 and a 1 year high of $34.16. The stock has a market capitalization of $1.51 billion, a P/E ratio of 11.44 and a beta of 1.41. The company’s 50-day moving average is $24.62 and its 200 day moving average is $24.40.

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

Hedge Funds Weigh In On Photronics

Institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its position in shares of Photronics by 3.1% in the 2nd quarter. Arizona State Retirement System now owns 17,735 shares of the semiconductor company’s stock worth $438,000 after buying an additional 530 shares during the period. Nisa Investment Advisors LLC boosted its stake 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 acquiring an additional 567 shares in the last quarter. US Bancorp DE grew its holdings in Photronics by 137.2% in 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 period. Koss Olinger Consulting LLC increased its stake in shares of Photronics by 4.3% during the third quarter. Koss Olinger Consulting LLC now owns 18,714 shares of the semiconductor company’s stock valued at $463,000 after purchasing an additional 780 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Photronics by 2.9% during the second quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the semiconductor company’s stock valued at $787,000 after purchasing an additional 900 shares in the last quarter. Institutional investors own 88.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PLAB shares. StockNews.com upgraded Photronics from a “hold” rating to a “buy” rating in a report on Saturday, September 28th. DA Davidson raised their price target on Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th.

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.