Insider Selling: Photronics, Inc. (NASDAQ:PLAB) SVP Sells 11,250 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB) SVP Han Kyung Park sold 11,250 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $23.80, for a total transaction of $267,750.00. Following the completion of the transaction, the senior vice president now owns 102,500 shares in the company, valued at approximately $2,439,500. The trade was a 9.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Photronics Price Performance

Photronics stock opened at $23.92 on Monday. Photronics, Inc. has a one year low of $20.25 and a one year high of $34.16. The business’s fifty day moving average is $24.62 and its 200 day moving average is $24.40. The stock has a market capitalization of $1.51 billion, a PE ratio of 11.44 and a beta of 1.41.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $222.60 million for the quarter, compared to the consensus estimate of $218.00 million. During the same quarter last year, the firm posted $0.60 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Photronics

A number of hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its holdings in shares of Photronics by 17.2% in the second quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company’s stock worth $61,252,000 after acquiring an additional 364,150 shares during the period. LSV Asset Management increased its position in shares of Photronics by 16.0% during the 2nd quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock valued at $49,094,000 after purchasing an additional 275,082 shares during the last quarter. American Century Companies Inc. increased its position in shares of Photronics by 12.8% during the 2nd quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock valued at $41,560,000 after purchasing an additional 191,809 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Photronics by 20.8% in the 2nd quarter. Victory Capital Management Inc. now owns 505,567 shares of the semiconductor company’s stock worth $12,472,000 after purchasing an additional 86,938 shares during the period. Finally, Inspire Advisors LLC purchased a new position in shares of Photronics in the second quarter worth approximately $2,112,000. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

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.