Insider Selling: Photronics, Inc. (NASDAQ:PLAB) Director Sells 10,000 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB) Director Walter M. Fiederowicz sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $24.01, for a total value of $240,100.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at $1,200,500. The trade was a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Photronics Stock Down 1.4 %

PLAB stock opened at $23.92 on Monday. The firm has a market capitalization of $1.51 billion, a PE ratio of 11.44 and a beta of 1.41. Photronics, Inc. has a twelve month low of $20.25 and a twelve month high of $34.16. The stock’s 50 day moving average is $24.62 and its 200-day moving average is $24.40.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share 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 for the quarter, compared to analysts’ expectations of $218.00 million. During the same period last year, the business earned $0.60 EPS. The business’s revenue was down 2.2% on a year-over-year basis. On average, equities research analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of Photronics by 17.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company’s stock worth $61,252,000 after buying an additional 364,150 shares in the last quarter. LSV Asset Management increased its position in shares of Photronics by 16.0% during the second quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock valued at $49,094,000 after acquiring an additional 275,082 shares during the last quarter. American Century Companies Inc. lifted its holdings in Photronics by 12.8% during the second quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock worth $41,560,000 after acquiring an additional 191,809 shares during the period. Victory Capital Management Inc. boosted its position in Photronics by 20.8% in the second quarter. Victory Capital Management Inc. now owns 505,567 shares of the semiconductor company’s stock worth $12,472,000 after purchasing an additional 86,938 shares during the last quarter. Finally, Inspire Advisors LLC bought a new position in Photronics in the 2nd quarter valued at $2,112,000. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PLAB. DA Davidson boosted their price target 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 shares of Photronics from a “hold” rating to a “buy” rating in a report on Saturday, September 28th.

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.