Photronics, Inc. (NASDAQ:PLAB) Director Sells $216,300.00 in 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 shares were sold at an average price of $21.63, for a total value of $216,300.00. Following the completion of the transaction, the director now directly owns 29,548 shares in the company, valued at approximately $639,123.24. The trade was a 25.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Photronics Trading Down 3.2 %

Shares of PLAB stock opened at $20.60 on Friday. Photronics, Inc. has a 12-month low of $19.61 and a 12-month high of $31.60. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 9.86 and a beta of 1.43. The stock has a 50 day simple moving average of $21.94 and a 200-day simple moving average of $23.47.

Photronics (NASDAQ:PLAB) last announced 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 net margin of 15.07% and a return on equity of 9.10%. The business had revenue of $212.14 million during the quarter, compared to the consensus estimate of $210.00 million. During the same quarter last year, the firm posted $0.48 EPS. On average, equities analysts forecast that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, DA Davidson boosted their price objective on shares of Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 12th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in Photronics by 216.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 762 shares in the last quarter. Federated Hermes Inc. purchased a new position in shares of Photronics during the 4th quarter worth approximately $47,000. Parkside Financial Bank & Trust raised its position in shares of Photronics by 65.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 904 shares during the last quarter. Menard Financial Group LLC purchased a new stake in Photronics in the 4th quarter valued at approximately $66,000. Finally, GAMMA Investing LLC grew its holdings in Photronics by 17.6% during the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company’s stock valued at $81,000 after buying an additional 516 shares during the last quarter. Hedge funds and other institutional investors own 88.38% of the company’s stock.

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.