Christopher J. Progler Sells 63,000 Shares of Photronics, Inc. (NASDAQ:PLAB) Stock

Photronics, Inc. (NASDAQ:PLAB) EVP Christopher J. Progler sold 63,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $24.85, for a total value of $1,565,550.00. Following the sale, the executive vice president now directly owns 219,166 shares of the company’s stock, valued at $5,446,275.10. This represents a 22.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Photronics Price Performance

Shares of Photronics stock opened at $24.04 on Friday. The business has a 50-day simple moving average of $24.60 and a 200 day simple moving average of $24.48. Photronics, Inc. has a one year low of $20.25 and a one year high of $34.16. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 11.50 and a beta of 1.41.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System increased its position in shares of Photronics by 2.9% during the second quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the semiconductor company’s stock worth $787,000 after acquiring an additional 900 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Photronics by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 511,962 shares of the semiconductor company’s stock worth $12,630,000 after purchasing an additional 3,289 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Photronics by 21.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 171,743 shares of the semiconductor company’s stock worth $4,237,000 after purchasing an additional 30,888 shares during the last quarter. Skylands Capital LLC lifted its holdings in shares of Photronics by 4.6% in the second quarter. Skylands Capital LLC now owns 114,100 shares of the semiconductor company’s stock valued at $2,815,000 after purchasing an additional 5,000 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Photronics during the second quarter valued at approximately $212,000. 88.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.