Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee Sells 8,750 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 8,750 shares of Photronics stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $24.40, for a total value of $213,500.00. Following the completion of the sale, the chief executive officer now directly owns 572,100 shares of the company’s stock, valued at $13,959,240. The trade was a 1.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, January 6th, Kang Jyh Lee sold 10,000 shares of Photronics stock. The shares were sold at an average price of $25.02, for a total value of $250,200.00.
• On Thursday, January 2nd, Kang Jyh Lee sold 17,500 shares of Photronics stock. The stock was 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 shares were 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 stock was sold at an average price of $25.27, for a total transaction of $505,400.00.

Photronics Stock Down 1.9 %

Shares of NASDAQ:PLAB opened at $24.10 on Wednesday. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 11.53 and a beta of 1.39. The firm’s 50 day moving average price is $24.62 and its 200 day moving average price is $24.30.

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, topping the consensus estimate 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 analysts’ expectations of $218.00 million. During the same period in the previous year, the company earned $0.60 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities analysts anticipate that Photronics, Inc. will post 2.3 EPS for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Photronics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its stake in Photronics by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 87,932 shares of the semiconductor company’s stock valued at $2,169,000 after purchasing an additional 2,951 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Photronics by 70.0% in the 2nd quarter. Renaissance Technologies LLC now owns 196,395 shares of the semiconductor company’s stock valued at $4,845,000 after buying an additional 80,900 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Photronics during the 2nd quarter worth $446,000. ProShare Advisors LLC lifted its position in Photronics by 23.3% in the second quarter. ProShare Advisors LLC now owns 15,226 shares of the semiconductor company’s stock valued at $376,000 after acquiring an additional 2,881 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Photronics by 8.6% in the second quarter. Public Sector Pension Investment Board now owns 139,383 shares of the semiconductor company’s stock valued at $3,439,000 after acquiring an additional 11,055 shares in the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.

About Photronics

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.