Photronics, Inc. (NASDAQ:PLAB) Director Walter M. Fiederowicz Sells 10,000 Shares

Photronics, Inc. (NASDAQ:PLAB) Director Walter M. Fiederowicz sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $21.63, for a total transaction of $216,300.00. Following the sale, the director now directly owns 29,548 shares in the company, valued at approximately $639,123.24. This trade represents a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Photronics Stock Performance

Shares of NASDAQ:PLAB traded up $0.12 during midday trading on Wednesday, hitting $21.68. 565,095 shares of the stock were exchanged, compared to its average volume of 460,719. Photronics, Inc. has a 52-week low of $19.61 and a 52-week high of $31.60. The business’s fifty day simple moving average is $22.08 and its two-hundred day simple moving average is $23.49. The company has a market capitalization of $1.38 billion, a PE ratio of 10.37 and a beta of 1.43.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. The firm had revenue of $212.14 million for the quarter, compared to analyst estimates of $210.00 million. Photronics had a net margin of 15.07% and a return on equity of 9.10%. During the same quarter last year, the firm earned $0.48 earnings per share. As a group, equities analysts anticipate that Photronics, Inc. will post 2.3 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PLAB. Smartleaf Asset Management LLC lifted its position in Photronics by 216.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 762 shares during the last quarter. Federated Hermes Inc. acquired a new position in shares of Photronics during the 4th quarter worth about $47,000. Parkside Financial Bank & Trust boosted its stake in Photronics by 65.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 904 shares during the period. Menard Financial Group LLC acquired a new stake in Photronics in the 4th quarter valued at approximately $66,000. Finally, GAMMA Investing LLC increased its position in Photronics by 17.6% in the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company’s stock worth $81,000 after buying an additional 516 shares during the period. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, DA Davidson lifted their target price on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research note 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.