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

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

Photronics Stock Performance

Shares of PLAB stock traded up $0.12 during midday trading on Wednesday, reaching $21.68. 565,095 shares of the company were exchanged, compared to its average volume of 460,719. The company’s 50 day moving average price is $22.08 and its two-hundred day moving average price is $23.49. The company has a market cap of $1.38 billion, a P/E ratio of 10.37 and a beta of 1.43. Photronics, Inc. has a 12 month low of $19.61 and a 12 month high of $31.60.

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

Analyst Upgrades and Downgrades

Separately, DA Davidson increased their price target on Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th.

Institutional Trading of Photronics

A number of hedge funds and other institutional investors have recently made changes to their positions in PLAB. Norges Bank acquired a new position in Photronics in the fourth quarter worth approximately $7,787,000. LSV Asset Management raised its position in shares of Photronics by 13.8% during the fourth quarter. LSV Asset Management now owns 2,120,319 shares of the semiconductor company’s stock worth $49,955,000 after purchasing an additional 257,373 shares during the period. Boston Partners lifted its holdings in shares of Photronics by 45.3% during the fourth quarter. Boston Partners now owns 799,439 shares of the semiconductor company’s stock valued at $18,893,000 after purchasing an additional 249,222 shares during the last quarter. Kestrel Investment Management Corp acquired a new position in shares of Photronics in the 4th quarter valued at $5,163,000. Finally, JPMorgan Chase & Co. increased its stake in Photronics by 118.8% in the 4th quarter. JPMorgan Chase & Co. now owns 367,346 shares of the semiconductor company’s stock worth $8,655,000 after purchasing an additional 199,490 shares in the last quarter. 88.38% of the stock is currently owned by institutional investors.

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.