Insider Selling: Photronics, Inc. (NASDAQ:PLAB) CEO Sells 8,750 Shares of Stock

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

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 stock was sold at an average price of $25.02, for a total value 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 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 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 0.7 %

Shares of PLAB opened at $23.94 on Thursday. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 11.45 and a beta of 1.39. Photronics, Inc. has a 12 month low of $20.25 and a 12 month high of $34.16. The firm has a fifty day simple moving average of $24.60 and a 200 day simple moving average of $24.29.

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 company had revenue of $222.60 million during the quarter, compared to the consensus estimate of $218.00 million. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. As a group, research analysts predict that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Photronics

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE grew its stake in shares of Photronics by 137.2% in the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 701 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Photronics by 65.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 567 shares during the last quarter. Quarry LP grew its position in shares of Photronics by 223.4% in the 2nd quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,816 shares during the period. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 1,164 shares during the last quarter. Finally, KBC Group NV lifted its stake in Photronics by 76.8% in the 4th quarter. KBC Group NV now owns 3,467 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 1,506 shares during the last quarter. Institutional investors own 88.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PLAB. StockNews.com raised shares of Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th. DA Davidson increased their price objective on Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a 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.