Photronics, Inc. (NASDAQ:PLAB) CEO Sells $421,750.00 in Stock

by · The Markets Daily

Photronics, Inc. (NASDAQ:PLABGet Free Report) CEO Kang Jyh Lee sold 17,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $24.10, for a total value of $421,750.00. Following the completion of the sale, the chief executive officer now directly owns 510,850 shares of the company’s stock, valued at $12,311,485. This represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • On Monday, January 6th, Kang Jyh Lee sold 10,000 shares of Photronics stock. The stock was sold at an average price of $25.02, for a total value of $250,200.00.
  • 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 value 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 Trading Down 1.0 %

Shares of Photronics stock opened at $24.22 on Thursday. The company’s 50-day moving average price is $24.68 and its 200-day moving average price is $24.35. Photronics, Inc. has a 12-month low of $20.25 and a 12-month high of $34.16. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 11.59 and a beta of 1.39.

Photronics (NASDAQ:PLABGet Free Report) last posted its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, topping 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%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. On average, sell-side analysts predict that Photronics, Inc. will post 2.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PLAB shares. DA Davidson raised their price objective on shares of Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. StockNews.com upgraded Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th.

View Our Latest Report on PLAB

Hedge Funds Weigh In On Photronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of Photronics by 17.6% in the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company’s stock valued at $81,000 after acquiring an additional 516 shares in the last quarter. Franklin Resources Inc. raised its stake in Photronics by 4.8% in the third quarter. Franklin Resources Inc. now owns 70,175 shares of the semiconductor company’s stock valued at $1,694,000 after purchasing an additional 3,217 shares in the last quarter. Sanctuary Advisors LLC lifted its position in Photronics by 12.9% during the third quarter. Sanctuary Advisors LLC now owns 73,350 shares of the semiconductor company’s stock valued at $1,826,000 after purchasing an additional 8,372 shares during the last quarter. Meros Investment Management LP grew its stake in Photronics by 5.6% in the 3rd quarter. Meros Investment Management LP now owns 476,395 shares of the semiconductor company’s stock worth $11,796,000 after buying an additional 25,471 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Photronics by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock worth $43,217,000 after buying an additional 85,160 shares during the last quarter. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

About Photronics

(Get Free Report)

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.

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