Photronics, Inc. (NASDAQ:PLAB) Director Sells $241,300.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) Director Walter M. Fiederowicz sold 10,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $24.13, for a total transaction of $241,300.00. Following the completion of the sale, the director now owns 32,000 shares in the company, valued at approximately $772,160. This trade represents a 23.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Photronics Trading Down 0.4 %

Photronics stock opened at $24.47 on Wednesday. Photronics, Inc. has a 12-month low of $20.25 and a 12-month high of $34.16. The firm has a 50-day moving average price of $24.67 and a 200-day moving average price of $24.35. The firm has a market capitalization of $1.55 billion, a PE ratio of 11.71 and a beta of 1.39.

Photronics (NASDAQ:PLAB) last announced its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (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 analyst estimates of $218.00 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Photronics

Several hedge funds have recently bought and sold shares of PLAB. US Bancorp DE lifted its position in shares of 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 grew its holdings in shares of Photronics by 65.4% in 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 stake in Photronics by 223.4% in the 2nd quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock worth $65,000 after buying an additional 1,816 shares during the period. GAMMA Investing LLC lifted its holdings in Photronics by 65.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after buying an additional 1,164 shares in the last quarter. Finally, Palouse Capital Management Inc. purchased a new stake in Photronics in the 2nd quarter valued at about $75,000. Institutional investors own 88.38% of the company’s stock.

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.