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

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 8,750 shares of Photronics stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $24.40, for a total transaction of $213,500.00. Following the transaction, the chief executive officer now directly owns 572,100 shares of the company’s stock, valued at $13,959,240. This represents a 1.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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 stock was sold at an average price of $25.02, for a total transaction 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 value 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 value 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 value of $505,400.00.

Photronics Stock Down 0.7 %

PLAB stock opened at $23.94 on Thursday. Photronics, Inc. has a twelve month low of $20.25 and a twelve month high of $34.16. The company has a market cap of $1.52 billion, a P/E ratio of 11.45 and a beta of 1.39. The business has a fifty day moving average of $24.60 and a 200-day moving average of $24.29.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $222.60 million during the quarter, compared to analyst estimates of $218.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The company’s revenue was down 2.2% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. As a group, equities research analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Photronics

A number of hedge funds and other institutional investors have recently bought and sold shares of PLAB. US Bancorp DE grew its stake in shares of Photronics by 137.2% during 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 lifted its stake in Photronics by 65.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 567 shares during the period. Quarry LP lifted its stake in Photronics by 223.4% in the second quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 1,816 shares during the period. GAMMA Investing LLC boosted its holdings in Photronics by 65.8% during the third quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock worth $73,000 after buying an additional 1,164 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Photronics by 76.8% in the 4th quarter. KBC Group NV now owns 3,467 shares of the semiconductor company’s stock valued at $82,000 after acquiring an additional 1,506 shares during the last quarter. 88.38% of the stock is 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.