Insider Selling: Photronics, Inc. (NASDAQ:PLAB) CEO Sells $250,200.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $25.02, for a total value of $250,200.00. Following the completion of the sale, the chief executive officer now directly owns 580,850 shares in the company, valued at approximately $14,532,867. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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 shares were sold at an average price of $24.10, for a total value of $421,750.00.
• On Tuesday, December 24th, Kang Jyh Lee sold 17,500 shares of Photronics stock. The stock was 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 shares were sold at an average price of $25.27, for a total transaction of $505,400.00.

Photronics Stock Down 1.0 %

Shares of PLAB opened at $24.22 on Friday. The firm has a market capitalization of $1.53 billion, a PE ratio of 11.59 and a beta of 1.39. The firm has a 50-day moving average price of $24.71 and a 200 day moving average price of $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 data 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 for the quarter, compared to analyst estimates of $218.00 million. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. On average, equities analysts expect that Photronics, Inc. will post 2.3 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Photronics

Several institutional investors have recently modified their holdings of the company. US Bancorp DE grew its holdings in Photronics by 137.2% during the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 701 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Photronics by 65.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 567 shares in the last quarter. Quarry LP grew its stake in shares of Photronics by 223.4% in the 2nd quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,816 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Photronics by 65.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock worth $73,000 after purchasing an additional 1,164 shares in the last quarter. Finally, Palouse Capital Management Inc. acquired a new stake in Photronics during the second quarter valued at approximately $75,000. Institutional investors and hedge funds own 88.38% of the company’s stock.

Photronics Company Profile

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.