Insider Selling: Photronics, Inc. (NASDAQ:PLAB) Director Sells 10,000 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB) Director Walter M. Fiederowicz sold 10,000 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $24.01, for a total transaction of $240,100.00. Following the sale, the director now owns 50,000 shares of the company’s stock, valued at approximately $1,200,500. This trade represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Photronics Price Performance

Shares of Photronics stock traded down $0.35 during trading on Friday, reaching $23.92. 300,624 shares of the company traded hands, compared to its average volume of 495,209. The firm has a market capitalization of $1.51 billion, a PE ratio of 11.44 and a beta of 1.41. The company has a 50 day moving average price of $24.62 and a 200-day moving average price of $24.44. Photronics, Inc. has a 1-year low of $20.25 and a 1-year high of $34.16.

Photronics (NASDAQ:PLAB) last released its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (EPS) 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 quarter in the prior year, the firm earned $0.60 EPS. The business’s revenue was down 2.2% on a year-over-year basis. Equities research analysts expect that Photronics, Inc. will post 2.3 earnings per share for the current year.

Institutional Investors Weigh In On Photronics

A number of hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE lifted its holdings in shares of Photronics by 137.2% in the 3rd quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 701 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Photronics by 65.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 567 shares in the last quarter. Quarry LP lifted its stake in shares of Photronics by 223.4% in the second quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 1,816 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Photronics by 65.8% during the third quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after buying an additional 1,164 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Photronics during the second quarter worth about $75,000. Institutional investors and hedge funds own 88.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. StockNews.com raised Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th. DA Davidson boosted their price target on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research note 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.