Insider Selling: Photronics, Inc. (NASDAQ:PLAB) CEO Sells $505,400.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 20,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $25.27, for a total transaction of $505,400.00. Following the completion of the transaction, the chief executive officer now directly owns 524,600 shares of the company’s stock, valued at approximately $13,256,642. The trade was a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Photronics Trading Down 1.5 %

Photronics stock opened at $24.04 on Monday. Photronics, Inc. has a 12-month low of $20.25 and a 12-month high of $34.16. The firm has a 50-day moving average price of $24.60 and a 200-day moving average price of $24.48. The firm has a market capitalization of $1.52 billion, a PE ratio of 11.50 and a beta of 1.41.

Photronics (NASDAQ:PLAB) last announced 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 the consensus estimate of $218.00 million. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PLAB shares. StockNews.com upgraded Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th. DA Davidson increased their price target on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, December 12th.

Hedge Funds Weigh In On Photronics

A number of large investors have recently bought and sold shares of PLAB. US Bancorp DE increased 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 during the period. Nisa Investment Advisors LLC grew its holdings in shares of Photronics by 65.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 567 shares during the last quarter. Quarry LP increased its stake in 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 buying an additional 1,816 shares during the period. GAMMA Investing LLC lifted its holdings in Photronics by 65.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after buying an additional 1,164 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Photronics in the 2nd quarter valued at about $75,000. Hedge funds and other institutional investors 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.