Kang Jyh Lee Sells 10,000 Shares of Photronics, Inc. (NASDAQ:PLAB) Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 10,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $25.02, for a total value of $250,200.00. Following the completion of the transaction, the chief executive officer now directly owns 580,850 shares of the company’s stock, valued at $14,532,867. This trade represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, January 2nd, Kang Jyh Lee sold 17,500 shares of Photronics stock. The stock was sold at an average price of $24.10, for a total value of $421,750.00.
• On Tuesday, December 24th, Kang Jyh Lee sold 17,500 shares of Photronics stock. The shares were sold at an average price of $24.00, for a total value of $420,000.00.
• 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

NASDAQ:PLAB traded down $0.10 during mid-day trading on Tuesday, hitting $24.47. The company had a trading volume of 888,132 shares, compared to its average volume of 529,583. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16. The business’s fifty day moving average is $24.67 and its two-hundred day moving average is $24.35. The firm has a market cap of $1.55 billion, a P/E ratio of 11.71 and a beta of 1.39.

Photronics (NASDAQ:PLAB) last released its quarterly 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 firm had revenue of $222.60 million for the quarter, compared to the consensus estimate of $218.00 million. During the same quarter last year, the business posted $0.60 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities analysts forecast that Photronics, Inc. will post 2.3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PLAB. US Bancorp DE boosted its holdings in shares of Photronics by 137.2% during the 3rd quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after buying an additional 701 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Photronics by 65.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after buying an additional 567 shares during the last quarter. Quarry LP boosted its position in Photronics by 223.4% during 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 worth $73,000 after buying an additional 1,164 shares during the period. Finally, Palouse Capital Management Inc. bought a new stake in shares of Photronics in the 2nd quarter valued at $75,000. Institutional investors own 88.38% of the company’s stock.

Wall Street Analyst Weigh In

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

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.