Photronics, Inc. (NASDAQ:PLAB) Director Sells $240,100.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) Director Walter M. Fiederowicz sold 10,000 shares of Photronics stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $24.01, for a total value of $240,100.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $1,200,500. The trade was a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Photronics Price Performance

Shares of NASDAQ PLAB traded down $0.35 during midday trading on Friday, reaching $23.92. The company’s stock had a trading volume of 300,624 shares, compared to its average volume of 495,209. The stock has a market capitalization of $1.51 billion, a P/E ratio of 11.44 and a beta of 1.41. The firm has a 50 day moving average price of $24.62 and a 200-day moving average price of $24.44. Photronics, Inc. has a 12-month low of $20.25 and a 12-month high of $34.16.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. The business had revenue of $222.60 million for the quarter, compared to analysts’ expectations of $218.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. On average, equities analysts predict that Photronics, Inc. will post 2.3 EPS for the current year.

Hedge Funds Weigh In On Photronics

Several institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted 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 valued at $30,000 after acquiring an additional 701 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of 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 purchasing an additional 567 shares during the last quarter. Quarry LP raised its holdings 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 purchasing an additional 1,816 shares during the period. GAMMA Investing LLC lifted its stake in Photronics by 65.8% in the third quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in Photronics during the second quarter valued at $75,000. Institutional investors own 88.38% of the company’s stock.

Analyst Ratings Changes

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