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

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

Photronics Stock Down 1.4 %

Photronics stock opened at $23.92 on Friday. The company has a market capitalization of $1.51 billion, a PE ratio of 11.44 and a beta of 1.41. The firm has a fifty day simple moving average of $24.62 and a two-hundred day simple moving average of $24.41. Photronics, Inc. has a twelve month low of $20.25 and a twelve month high of $34.16.

Photronics (NASDAQ:PLAB) last issued its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The company had revenue of $222.60 million during 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%. Photronics’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. As a group, equities analysts expect that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PLAB. DA Davidson increased their price objective on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PLAB. Pacer Advisors Inc. raised its holdings in Photronics by 17.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company’s stock valued at $61,252,000 after buying an additional 364,150 shares during the last quarter. State Street Corp raised its stake in shares of Photronics by 0.4% during the third quarter. State Street Corp now owns 2,368,450 shares of the semiconductor company’s stock valued at $58,643,000 after acquiring an additional 10,590 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Photronics by 16.0% during the second quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock worth $49,094,000 after purchasing an additional 275,082 shares during the period. Geode Capital Management LLC increased its holdings in Photronics by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock valued at $43,217,000 after purchasing an additional 85,160 shares during the period. Finally, American Century Companies Inc. increased its holdings in Photronics by 12.8% during the 2nd quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock valued at $41,560,000 after purchasing an additional 191,809 shares during the period. Institutional investors own 88.38% of the company’s stock.

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.