Insider Selling: Photronics, Inc. (NASDAQ:PLAB) VP Sells 12,412 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB) VP Christopher J. Progler sold 12,412 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $14.95, for a total transaction of $185,559.40. Following the completion of the transaction, the vice president now owns 140,325 shares in the company, valued at $2,097,858.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of PLAB stock traded up $0.19 during trading hours on Thursday, hitting $15.44. 2,312 shares of the company’s stock traded hands, compared to its average volume of 640,095. Photronics, Inc. has a 12-month low of $7.95 and a 12-month high of $16.75. The company has a quick ratio of 2.50, a current ratio of 2.81 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 35.15 and a beta of 0.54. The stock’s fifty day simple moving average is $14.60 and its two-hundred day simple moving average is $11.41.

Photronics (NASDAQ:PLAB) last released its earnings results on Wednesday, December 11th. The semiconductor company reported $0.15 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. The business had revenue of $156.30 million for the quarter, compared to the consensus estimate of $147.37 million. Photronics had a return on equity of 3.29% and a net margin of 5.41%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share. On average, equities analysts forecast that Photronics, Inc. will post 0.91 earnings per share for the current fiscal year.

PLAB has been the topic of a number of research analyst reports. Northland Securities set a $15.00 target price on Photronics and gave the company a “buy” rating in a research note on Monday, October 21st. DA Davidson reissued a “buy” rating and set a $18.00 price objective on shares of Photronics in a report on Thursday, December 12th. Zacks Investment Research upgraded shares of Photronics from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Saturday, December 14th. TheStreet raised shares of Photronics from a “c” rating to a “b-” rating in a research note on Wednesday, December 11th. Finally, BidaskClub raised Photronics from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Photronics presently has a consensus rating of “Buy” and an average price target of $17.00.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its stake in shares of Photronics by 1.1% in the second quarter. BlackRock Inc. now owns 10,142,696 shares of the semiconductor company’s stock worth $83,170,000 after acquiring an additional 107,904 shares during the period. Vanguard Group Inc. raised its stake in Photronics by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 4,476,778 shares of the semiconductor company’s stock worth $36,710,000 after acquiring an additional 20,529 shares during the period. Renaissance Technologies LLC lifted its holdings in Photronics by 2.9% during the second quarter. Renaissance Technologies LLC now owns 2,686,995 shares of the semiconductor company’s stock valued at $22,033,000 after purchasing an additional 75,400 shares in the last quarter. State Street Corp lifted its holdings in Photronics by 2.6% during the third quarter. State Street Corp now owns 2,253,100 shares of the semiconductor company’s stock valued at $24,514,000 after purchasing an additional 57,785 shares in the last quarter. Finally, Donald Smith & CO. Inc. boosted its position in shares of Photronics by 3.3% in the third quarter. Donald Smith & CO. Inc. now owns 2,183,284 shares of the semiconductor company’s stock worth $23,754,000 after purchasing an additional 70,187 shares during the period. Institutional investors and hedge funds own 96.93% of the company’s stock.

Photronics Company Profile

Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz or glass plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.

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Insider Buying and Selling by Quarter for Photronics (NASDAQ:PLAB)

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