Kang Jyh Lee Sells 20,000 Shares of Photronics, Inc. (NASDAQ:PLAB) Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 20,000 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $25.27, for a total value of $505,400.00. Following the transaction, the chief executive officer now directly owns 524,600 shares in the company, valued at $13,256,642. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Photronics Trading Down 1.5 %

PLAB opened at $24.04 on Monday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 11.50 and a beta of 1.41. Photronics, Inc. has a 12 month low of $20.25 and a 12 month high of $34.16. The stock has a fifty day moving average price of $24.60 and a 200-day moving average price of $24.48.

Photronics (NASDAQ:PLAB) last announced its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the company posted $0.60 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. On average, equities research analysts forecast that Photronics, Inc. will post 2.3 EPS for the current year.

Institutional Investors Weigh In On Photronics

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

Analyst Upgrades and Downgrades

PLAB has been the subject of a number of research reports. 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 shares of Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research note 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.