Photronics, Inc. (NASDAQ:PLAB) Director Sells $95,800.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) Director Walter M. Fiederowicz sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $19.16, for a total value of $95,800.00. Following the sale, the director now owns 24,548 shares of the company’s stock, valued at $470,339.68. This trade represents a 16.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Photronics Trading Down 3.6 %

Shares of PLAB opened at $17.51 on Monday. The stock’s 50 day moving average is $21.50 and its two-hundred day moving average is $23.35. Photronics, Inc. has a twelve month low of $16.78 and a twelve month high of $31.60. The firm has a market capitalization of $1.11 billion, a PE ratio of 8.38 and a beta of 1.40.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $212.14 million for the quarter, compared to the consensus estimate of $210.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. During the same period in the previous year, the business earned $0.48 earnings per share. On average, sell-side analysts predict that Photronics, Inc. will post 2.3 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PLAB. Norges Bank acquired a new stake in shares of Photronics in the 4th quarter worth approximately $7,787,000. LSV Asset Management boosted its position in Photronics by 13.8% during the fourth quarter. LSV Asset Management now owns 2,120,319 shares of the semiconductor company’s stock worth $49,955,000 after purchasing an additional 257,373 shares in the last quarter. Boston Partners grew its holdings in Photronics by 45.3% in the fourth quarter. Boston Partners now owns 799,439 shares of the semiconductor company’s stock valued at $18,893,000 after purchasing an additional 249,222 shares during the last quarter. Kestrel Investment Management Corp purchased a new position in shares of Photronics in the fourth quarter valued at $5,163,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Photronics by 118.8% during the 4th quarter. JPMorgan Chase & Co. now owns 367,346 shares of the semiconductor company’s stock worth $8,655,000 after buying an additional 199,490 shares during the last quarter. 88.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

About Photronics

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.