Insider Selling: Photronics, Inc. (NASDAQ:PLAB) Director Sells 10,000 Shares of Stock

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

Photronics Price Performance

NASDAQ PLAB traded down $0.10 during trading on Tuesday, reaching $24.47. 888,132 shares of the company’s stock were exchanged, compared to its average volume of 529,583. The business has a 50 day moving average price of $24.67 and a 200-day moving average price of $24.35. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16. The stock has a market capitalization of $1.55 billion, a P/E ratio of 11.71 and a beta of 1.39.

Photronics (NASDAQ:PLAB) last posted its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $222.60 million during the quarter, compared to the consensus estimate of $218.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 earnings per share. On average, analysts forecast that Photronics, Inc. will post 2.3 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Trading of Photronics

Several large investors have recently modified their holdings of PLAB. GAMMA Investing LLC lifted its position in Photronics by 17.6% during the fourth quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 516 shares during the period. Franklin Resources Inc. raised its stake in Photronics by 4.8% during the third quarter. Franklin Resources Inc. now owns 70,175 shares of the semiconductor company’s stock worth $1,694,000 after acquiring an additional 3,217 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Photronics by 12.9% in the third quarter. Sanctuary Advisors LLC now owns 73,350 shares of the semiconductor company’s stock worth $1,826,000 after acquiring an additional 8,372 shares during the last quarter. Meros Investment Management LP boosted its stake in shares of Photronics by 5.6% in the 3rd quarter. Meros Investment Management LP now owns 476,395 shares of the semiconductor company’s stock valued at $11,796,000 after purchasing an additional 25,471 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Photronics by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock valued at $43,217,000 after purchasing an additional 85,160 shares during the last quarter. 88.38% of the stock is owned by institutional investors and hedge funds.

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.