Photronics, Inc. (NASDAQ:PLAB) CEO Sells $420,000.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 17,500 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $24.00, for a total value of $420,000.00. Following the completion of the transaction, the chief executive officer now directly owns 528,350 shares of the company’s stock, valued at approximately $12,680,400. This trade represents a 3.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 transaction of $505,400.00.

Photronics Stock Performance

Shares of NASDAQ:PLAB opened at $23.92 on Monday. The company’s fifty day moving average is $24.62 and its 200-day moving average is $24.40. Photronics, Inc. has a 52 week low of $20.25 and a 52 week high of $34.16. The company has a market capitalization of $1.51 billion, a PE ratio of 11.44 and a beta of 1.41.

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

Institutional Investors Weigh In On Photronics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. grew its holdings in shares of Photronics by 4.8% during the third quarter. Franklin Resources Inc. now owns 70,175 shares of the semiconductor company’s stock worth $1,694,000 after purchasing an additional 3,217 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in Photronics by 12.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 73,350 shares of the semiconductor company’s stock worth $1,826,000 after acquiring an additional 8,372 shares during the last quarter. Meros Investment Management LP increased its position in Photronics by 5.6% in the 3rd quarter. Meros Investment Management LP now owns 476,395 shares of the semiconductor company’s stock valued at $11,796,000 after acquiring an additional 25,471 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Photronics by 5.1% in the third quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock worth $43,217,000 after acquiring an additional 85,160 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in shares of Photronics during the third quarter worth approximately $252,000. 88.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLAB has been the topic of a number of analyst reports. DA Davidson upped their target price 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. StockNews.com upgraded Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th.

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.