Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee Sells 10,000 Shares

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 10,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $25.02, for a total value of $250,200.00. Following the transaction, the chief executive officer now directly owns 580,850 shares in the company, valued at $14,532,867. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 transaction 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 Price Performance

Photronics stock opened at $24.47 on Wednesday. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 11.71 and a beta of 1.39. The company’s 50 day simple moving average is $24.67 and its 200 day simple moving average is $24.35. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16.

Photronics (NASDAQ:PLAB) last announced its quarterly 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. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The company had revenue of $222.60 million for the quarter, compared to analysts’ expectations of $218.00 million. During the same period last year, the firm posted $0.60 earnings per share. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, analysts predict that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Photronics

Several large investors have recently modified their holdings of the business. Pacer Advisors Inc. increased its stake in Photronics by 17.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company’s stock worth $61,252,000 after purchasing an additional 364,150 shares in the last quarter. State Street Corp raised its holdings in shares of Photronics by 0.4% during the third quarter. State Street Corp now owns 2,368,450 shares of the semiconductor company’s stock worth $58,643,000 after acquiring an additional 10,590 shares during the period. LSV Asset Management lifted its position in Photronics by 16.0% in the 2nd quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock valued at $49,094,000 after acquiring an additional 275,082 shares in the last quarter. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 85,160 shares during the period. Finally, American Century Companies Inc. increased its holdings in Photronics by 12.8% during the 2nd quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock worth $41,560,000 after purchasing an additional 191,809 shares in the last quarter. 88.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on PLAB shares. DA Davidson upped their target price on shares of Photronics from $32.00 to $35.00 and gave the company 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 note on Saturday, September 28th.

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.