Photronics, Inc. (NASDAQ:PLAB) CEO Sells $420,000.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 17,500 shares of Photronics stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $24.00, for a total value of $420,000.00. Following the completion of the sale, the chief executive officer now owns 528,350 shares of the company’s stock, valued at approximately $12,680,400. The trade was a 3.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Kang Jyh Lee also recently made the following trade(s):

• 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 transaction of $505,400.00.

Photronics Price Performance

Shares of PLAB stock opened at $23.92 on Monday. The stock has a market cap of $1.51 billion, a PE ratio of 11.44 and a beta of 1.41. The stock has a 50-day moving average of $24.62 and a 200-day moving average of $24.40. Photronics, Inc. has a one year low of $20.25 and a one year high of $34.16.

Photronics (NASDAQ:PLAB) last issued its 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. The firm 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 business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. As a group, research analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Photronics from a “hold” rating to a “buy” rating in a report on Saturday, September 28th. DA Davidson raised their price target on Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its holdings in shares of Photronics by 4.8% in the third quarter. Franklin Resources Inc. now owns 70,175 shares of the semiconductor company’s stock worth $1,694,000 after acquiring an additional 3,217 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of Photronics by 12.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 73,350 shares of the semiconductor company’s stock valued at $1,826,000 after purchasing an additional 8,372 shares during the period. Meros Investment Management LP raised its holdings in Photronics by 5.6% during the 3rd quarter. Meros Investment Management LP now owns 476,395 shares of the semiconductor company’s stock worth $11,796,000 after buying an additional 25,471 shares during the period. Geode Capital Management LLC raised its holdings in Photronics by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock worth $43,217,000 after buying an additional 85,160 shares during the period. Finally, M&T Bank Corp bought a new position in Photronics in the third quarter valued at approximately $252,000. 88.38% of the stock is currently owned by institutional investors.

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.