Insider Selling: Photronics, Inc. (NASDAQ:PLAB) CEO Sells 10,000 Shares of Stock

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

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 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 stock was 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 shares were sold at an average price of $25.27, for a total value of $505,400.00.

Photronics Stock Performance

Shares of NASDAQ:PLAB opened at $24.47 on Wednesday. Photronics, Inc. has a 52-week low of $20.25 and a 52-week high of $34.16. The company has a market capitalization of $1.55 billion, a P/E ratio of 11.71 and a beta of 1.39. The company has a 50-day simple moving average of $24.67 and a 200 day simple moving average of $24.35.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $222.60 million during the quarter, compared to analysts’ expectations of $218.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The business’s revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share. As a group, equities analysts forecast that Photronics, Inc. will post 2.3 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. DA Davidson increased their price target on Photronics from $32.00 to $35.00 and gave the company 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.

Hedge Funds Weigh In On Photronics

Institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE lifted its stake 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 last quarter. Nisa Investment Advisors LLC lifted its position in 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 acquiring an additional 567 shares during the last quarter. Quarry LP boosted its holdings in shares of Photronics by 223.4% during the second quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,816 shares during the period. GAMMA Investing LLC grew its position in shares of Photronics by 65.8% in the third quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Palouse Capital Management Inc. bought a new position in shares of Photronics during the second quarter worth approximately $75,000. 88.38% of the stock is currently owned by institutional investors and hedge funds.

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.