Insider Selling: Photronics, Inc. (NASDAQ:PLAB) SVP Sells 11,250 Shares of Stock

by · The Markets Daily

Photronics, Inc. (NASDAQ:PLAB – Get Free Report) SVP Han Kyung Park sold 11,250 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $23.80, for a total transaction of $267,750.00. Following the sale, the senior vice president now owns 102,500 shares of the company’s stock, valued at $2,439,500. This trade represents a 9.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Photronics Stock Performance

NASDAQ:PLAB traded down $0.35 during mid-day trading on Friday, reaching $23.92. The stock had a trading volume of 300,624 shares, compared to its average volume of 495,209. Photronics, Inc. has a twelve month low of $20.25 and a twelve month high of $34.16. The business has a 50 day simple moving average of $24.62 and a 200 day simple moving average of $24.44. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 11.44 and a beta of 1.41.

Photronics (NASDAQ:PLAB – Get Free Report) last posted its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 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 business had revenue of $222.60 million during the quarter, compared to analysts’ expectations of $218.00 million. During the same period last year, the firm earned $0.60 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Photronics, Inc. will post 2.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PLAB shares. StockNews.com raised Photronics from a “hold” rating to a “buy” rating in a report on Saturday, September 28th. DA Davidson boosted 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.

Get Our Latest Analysis on Photronics

Institutional Investors Weigh In On Photronics

Several institutional investors have recently made changes to their positions in PLAB. Pacer Advisors Inc. lifted its stake in shares of Photronics by 17.2% in the second quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company’s stock valued at $61,252,000 after purchasing an additional 364,150 shares during the period. State Street Corp lifted its position in shares of Photronics by 0.4% during the 3rd quarter. State Street Corp now owns 2,368,450 shares of the semiconductor company’s stock valued at $58,643,000 after acquiring an additional 10,590 shares during the period. LSV Asset Management boosted its stake in shares of 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 acquiring an additional 275,082 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Photronics by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock worth $43,217,000 after acquiring an additional 85,160 shares during the period. Finally, American Century Companies Inc. increased its stake in Photronics by 12.8% in 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 purchasing an additional 191,809 shares in the last quarter. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

Photronics Company Profile

(Get Free Report)

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.

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