Photronics, Inc. (PLAB) VP Richelle E. Burr Sells 2,000 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB) VP Richelle E. Burr sold 2,000 shares of the stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $9.53, for a total transaction of $19,060.00. Following the completion of the transaction, the vice president now owns 50,067 shares in the company, valued at $477,138.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of PLAB opened at $9.74 on Thursday. The company has a market cap of $679.06 million, a PE ratio of 51.26, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. Photronics, Inc. has a 12-month low of $7.20 and a 12-month high of $11.00.

Photronics (NASDAQ:PLAB) last announced its earnings results on Wednesday, August 22nd. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $136.39 million for the quarter, compared to analyst estimates of $132.67 million. Photronics had a net margin of 6.83% and a return on equity of 3.65%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. As a group, research analysts predict that Photronics, Inc. will post 0.58 EPS for the current year.



Photronics declared that its Board of Directors has initiated a share repurchase program on Friday, July 6th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Several institutional investors and hedge funds have recently made changes to their positions in PLAB. BlackRock Inc. grew its position in Photronics by 7.2% in the 2nd quarter. BlackRock Inc. now owns 9,656,455 shares of the semiconductor company’s stock valued at $77,011,000 after buying an additional 652,680 shares during the last quarter. Millennium Management LLC grew its position in Photronics by 28.2% in the 2nd quarter. Millennium Management LLC now owns 1,324,211 shares of the semiconductor company’s stock valued at $10,561,000 after buying an additional 291,629 shares during the last quarter. Cortina Asset Management LLC grew its position in Photronics by 58.2% in the 2nd quarter. Cortina Asset Management LLC now owns 646,950 shares of the semiconductor company’s stock valued at $5,159,000 after buying an additional 238,023 shares during the last quarter. Quantum Capital Management grew its position in Photronics by 355.0% in the 2nd quarter. Quantum Capital Management now owns 262,828 shares of the semiconductor company’s stock valued at $2,096,000 after buying an additional 205,059 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Photronics by 17.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 727,411 shares of the semiconductor company’s stock valued at $5,802,000 after buying an additional 105,779 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. ValuEngine lowered shares of Photronics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Zacks Investment Research upgraded shares of Photronics from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Saturday, August 25th. BidaskClub upgraded shares of Photronics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, TheStreet upgraded shares of Photronics from a “c+” rating to a “b-” rating in a research report on Tuesday, September 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $11.67.

About Photronics

Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.

Recommended Story: Fiduciary

Insider Buying and Selling by Quarter for Photronics (NASDAQ:PLAB)

Receive News & Ratings for Photronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Photronics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply