Insider Selling: Photronics, Inc. (NASDAQ:PLAB) EVP Sells 63,000 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB) EVP Christopher J. Progler sold 63,000 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $24.85, for a total value of $1,565,550.00. Following the completion of the sale, the executive vice president now owns 219,166 shares of the company’s stock, valued at approximately $5,446,275.10. This represents a 22.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Photronics Trading Down 1.5 %

PLAB stock traded down $0.37 during midday trading on Friday, hitting $24.04. 2,343,371 shares of the company’s stock were exchanged, compared to its average volume of 497,189. The firm has a 50 day moving average price of $24.60 and a 200-day moving average price of $24.51. Photronics, Inc. has a 12-month low of $20.25 and a 12-month high of $34.16. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 11.50 and a beta of 1.41.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $218.00 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Photronics

Institutional investors have recently modified their holdings of the stock. US Bancorp DE grew its stake in Photronics by 137.2% in the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 701 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Photronics by 65.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after buying an additional 567 shares during the last quarter. Quarry LP grew its position in shares of Photronics by 223.4% in the 2nd quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,816 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Photronics by 65.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after acquiring an additional 1,164 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Photronics during the 2nd quarter valued at approximately $75,000. Institutional investors and hedge funds own 88.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. DA Davidson increased their target price on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research note 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.

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.