Photronics, Inc. (NASDAQ:PLAB) Director Sells $241,300.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) Director Walter M. Fiederowicz sold 10,000 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $24.13, for a total value of $241,300.00. Following the sale, the director now owns 32,000 shares in the company, valued at $772,160. This represents a 23.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Photronics Trading Down 0.4 %

NASDAQ:PLAB traded down $0.10 during trading hours on Tuesday, hitting $24.47. 888,132 shares of the company were exchanged, compared to its average volume of 529,583. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 11.71 and a beta of 1.39. Photronics, Inc. has a one year low of $20.25 and a one year high of $34.16. The company has a fifty day simple moving average of $24.67 and a 200 day simple moving average of $24.35.

Photronics (NASDAQ:PLAB) last issued its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The business 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 firm’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. Equities research analysts predict that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PLAB. DA Davidson boosted their price target on Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. StockNews.com raised shares of Photronics from a “hold” rating to a “buy” rating in a report on Saturday, September 28th.

Institutional Trading of Photronics

Several hedge funds have recently added to or reduced their stakes in PLAB. Pacer Advisors Inc. boosted its stake in Photronics by 17.2% during the second 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 period. LSV Asset Management lifted its position in Photronics by 16.0% during the second quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock valued at $49,094,000 after buying an additional 275,082 shares during the period. American Century Companies Inc. boosted its position in shares of Photronics by 12.8% in the 2nd quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock worth $41,560,000 after purchasing an additional 191,809 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Photronics by 20.8% in the 2nd quarter. Victory Capital Management Inc. now owns 505,567 shares of the semiconductor company’s stock worth $12,472,000 after purchasing an additional 86,938 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new stake in Photronics during the 2nd quarter valued at $2,112,000. 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.