Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee Sells 17,500 Shares

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 17,500 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $24.00, for a total transaction of $420,000.00. Following the transaction, the chief executive officer now owns 528,350 shares in the company, valued at approximately $12,680,400. This trade represents a 3.21 % decrease in their position. The sale was disclosed in a legal filing 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 stock was sold at an average price of $25.27, for a total transaction of $505,400.00.

Photronics Trading Down 1.4 %

PLAB traded down $0.35 during trading on Friday, hitting $23.92. The stock had a trading volume of 300,624 shares, compared to its average volume of 495,209. Photronics, Inc. has a 12 month low of $20.25 and a 12 month high of $34.16. The company has a 50 day simple moving average of $24.62 and a 200-day simple moving average of $24.44. The firm has a market cap of $1.51 billion, a PE ratio of 11.44 and a beta of 1.41.

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

Institutional Investors Weigh In On Photronics

Hedge funds have recently modified their holdings of the business. US Bancorp DE raised its stake in Photronics by 137.2% during the 3rd quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 701 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Photronics by 65.4% during the 3rd 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 period. Quarry LP raised 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 buying an additional 1,816 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Photronics by 65.8% in the third 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 during the period. Finally, Innealta Capital LLC acquired a new stake in Photronics during the second quarter worth about $75,000. 88.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. StockNews.com raised Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th. DA Davidson upped their target price on Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th.

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.