Insider Selling: Photronics, Inc. (NASDAQ:PLAB) Director Sells 5,000 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB) Director Walter M. Fiederowicz sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $17.79, for a total value of $88,950.00. Following the sale, the director now directly owns 5,000 shares in the company, valued at $88,950. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Photronics Stock Down 0.6 %

Photronics stock traded down $0.11 during mid-day trading on Thursday, reaching $17.67. 691,084 shares of the company’s stock traded hands, compared to its average volume of 507,696. Photronics, Inc. has a 12-month low of $16.46 and a 12-month high of $31.60. The stock has a 50 day moving average of $20.55 and a two-hundred day moving average of $22.94. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 8.45 and a beta of 1.40.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The firm had revenue of $212.14 million during the quarter, compared to the consensus estimate of $210.00 million. During the same quarter last year, the firm earned $0.48 EPS. As a group, sell-side analysts forecast that Photronics, Inc. will post 2.3 earnings per share for the current year.

Institutional Trading of Photronics

A number of institutional investors have recently bought and sold shares of PLAB. Norges Bank purchased a new stake in shares of Photronics in the fourth quarter valued at $7,787,000. LSV Asset Management raised its position in Photronics by 13.8% in the 4th quarter. LSV Asset Management now owns 2,120,319 shares of the semiconductor company’s stock worth $49,955,000 after purchasing an additional 257,373 shares during the period. Boston Partners boosted its position in shares of Photronics by 45.3% during the fourth quarter. Boston Partners now owns 799,439 shares of the semiconductor company’s stock valued at $18,893,000 after buying an additional 249,222 shares during the period. Kestrel Investment Management Corp purchased a new position in shares of Photronics during the fourth quarter valued at approximately $5,163,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Photronics by 118.8% during the fourth quarter. JPMorgan Chase & Co. now owns 367,346 shares of the semiconductor company’s stock valued at $8,655,000 after buying an additional 199,490 shares during the last quarter. 88.38% of the stock is currently owned by institutional investors.

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.