Photronics, Inc. (NASDAQ:PLAB) CEO Sells $213,500.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 8,750 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $24.40, for a total transaction of $213,500.00. Following the sale, the chief executive officer now directly owns 572,100 shares of the company’s stock, valued at $13,959,240. This represents a 1.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, January 6th, Kang Jyh Lee sold 10,000 shares of Photronics stock. The shares were sold at an average price of $25.02, for a total transaction of $250,200.00.
• On Thursday, January 2nd, Kang Jyh Lee sold 17,500 shares of Photronics stock. The shares were sold at an average price of $24.10, for a total transaction 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 transaction of $420,000.00.
• 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 1.8 %

NASDAQ PLAB opened at $23.51 on Friday. The company has a fifty day simple moving average of $24.59 and a 200 day simple moving average of $24.29. Photronics, Inc. has a 12-month low of $20.25 and a 12-month high of $34.16. The company has a market cap of $1.49 billion, a P/E ratio of 11.25 and a beta of 1.39.

Photronics (NASDAQ:PLAB) last posted 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 net margin of 15.07% and a return on equity of 9.10%. The business had revenue of $222.60 million during the quarter, compared to the consensus estimate of $218.00 million. During the same quarter last year, the firm posted $0.60 EPS. Photronics’s revenue was down 2.2% compared to the same quarter last year. Sell-side analysts predict that Photronics, Inc. will post 2.3 EPS for the current year.

Institutional Trading of Photronics

Hedge funds have recently bought and sold shares of the business. M&T Bank Corp acquired a new stake in Photronics in the 3rd quarter valued at $252,000. Geode Capital Management LLC lifted its stake in Photronics by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock valued at $43,217,000 after acquiring an additional 85,160 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Photronics by 4.9% during the 3rd quarter. Victory Capital Management Inc. now owns 530,401 shares of the semiconductor company’s stock valued at $13,133,000 after acquiring an additional 24,834 shares in the last quarter. FMR LLC lifted its stake in Photronics by 36.0% during the 3rd quarter. FMR LLC now owns 135,208 shares of the semiconductor company’s stock valued at $3,348,000 after acquiring an additional 35,825 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Photronics during the 4th quarter valued at $298,000. Institutional investors and hedge funds own 88.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PLAB. 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 research report on Thursday, December 12th. StockNews.com raised shares of Photronics from a “hold” rating to a “buy” rating in a research 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.