Insider Selling: Photronics, Inc. (NASDAQ:PLAB) Director Sells $216,300.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) Director Walter M. Fiederowicz sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $21.63, for a total value of $216,300.00. Following the transaction, the director now directly owns 29,548 shares of the company’s stock, valued at $639,123.24. The trade was a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Photronics Price Performance

Photronics stock opened at $20.60 on Friday. The stock has a market cap of $1.31 billion, a PE ratio of 9.86 and a beta of 1.43. The stock’s fifty day moving average is $21.94 and its two-hundred day moving average is $23.47. Photronics, Inc. has a 1-year low of $19.61 and a 1-year high of $31.60.

Photronics (NASDAQ:PLAB) last issued its earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. The business had revenue of $212.14 million for the quarter, compared to analyst estimates of $210.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. During the same quarter last year, the company earned $0.48 EPS. On average, research analysts expect that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, DA Davidson upped their target price on shares of Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th.

Hedge Funds Weigh In On Photronics

Several large investors have recently bought and sold shares of PLAB. Smartleaf Asset Management LLC increased its position in shares of Photronics by 216.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 762 shares in the last quarter. Federated Hermes Inc. acquired a new position in Photronics during the fourth quarter worth approximately $47,000. Parkside Financial Bank & Trust lifted its stake in Photronics by 65.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 904 shares during the last quarter. Menard Financial Group LLC acquired a new stake in shares of Photronics in the fourth quarter valued at approximately $66,000. Finally, GAMMA Investing LLC grew its position in shares of Photronics by 17.6% during the fourth quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 516 shares during the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.

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.