Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee Sells 10,000 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 10,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $25.02, for a total value of $250,200.00. Following the completion of the transaction, the chief executive officer now owns 580,850 shares of the company’s stock, valued at $14,532,867. This trade represents a 1.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Kang Jyh Lee also recently made the following trade(s):

• On Thursday, January 2nd, Kang Jyh Lee sold 17,500 shares of Photronics stock. The stock was sold at an average price of $24.10, for a total transaction of $421,750.00.
• On Tuesday, December 24th, Kang Jyh Lee sold 17,500 shares of Photronics stock. The shares were sold at an average price of $24.00, for a total transaction of $420,000.00.
• On Thursday, December 19th, Kang Jyh Lee sold 20,000 shares of Photronics stock. The stock was sold at an average price of $25.27, for a total transaction of $505,400.00.

Photronics Stock Performance

Shares of PLAB opened at $24.22 on Friday. The company has a market capitalization of $1.53 billion, a PE ratio of 11.59 and a beta of 1.39. The company’s 50 day moving average price is $24.71 and its 200 day moving average price is $24.35. Photronics, Inc. has a 52 week low of $20.25 and a 52 week high of $34.16.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 EPS for the quarter, beating 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 net margin of 15.07% and a return on equity of 9.10%. Photronics’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. On average, equities analysts forecast that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Photronics

A number of institutional investors have recently made changes to their positions in the business. US Bancorp DE boosted its stake in Photronics by 137.2% during the 3rd quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 701 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Photronics by 65.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after buying an additional 567 shares during the last quarter. Quarry LP boosted its position in shares of Photronics by 223.4% in the second quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,816 shares during the period. GAMMA Investing LLC grew its stake in shares of Photronics by 65.8% in the third quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock worth $73,000 after acquiring an additional 1,164 shares during the last quarter. Finally, Palouse Capital Management Inc. acquired a new stake in shares of Photronics in the second quarter worth $75,000. 88.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. StockNews.com upgraded Photronics from a “hold” rating to a “buy” rating in a report on Saturday, September 28th. DA Davidson upped their price target on Photronics from $32.00 to $35.00 and gave the company 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.