Photronics, Inc. (NASDAQ:PLAB) CEO Sells $213,500.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 8,750 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $24.40, for a total value of $213,500.00. Following the transaction, the chief executive officer now owns 572,100 shares in the company, valued at $13,959,240. This trade represents a 1.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kang Jyh Lee also recently made the following trade(s):

• On Monday, January 6th, Kang Jyh Lee sold 10,000 shares of Photronics stock. The stock was sold at an average price of $25.02, for a total transaction of $250,200.00.
• 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 shares were 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 stock was sold at an average price of $25.27, for a total value of $505,400.00.

Photronics Trading Down 1.9 %

Shares of PLAB traded down $0.47 during midday trading on Tuesday, reaching $24.10. 498,373 shares of the company were exchanged, compared to its average volume of 502,298. Photronics, Inc. has a 1-year low of $20.25 and a 1-year high of $34.16. The stock has a 50-day moving average price of $24.62 and a 200-day moving average price of $24.30. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 11.53 and a beta of 1.39.

Photronics (NASDAQ:PLAB) last posted its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $222.60 million for the quarter, compared to analysts’ expectations of $218.00 million. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share. Equities research analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on PLAB. StockNews.com upgraded Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th. DA Davidson boosted their price objective on shares of Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp boosted its stake in Photronics by 0.4% in the third quarter. State Street Corp now owns 2,368,450 shares of the semiconductor company’s stock valued at $58,643,000 after acquiring an additional 10,590 shares during the period. Geode Capital Management LLC lifted its position 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 valued at $43,217,000 after purchasing an additional 85,160 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Photronics by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 967,003 shares of the semiconductor company’s stock worth $23,943,000 after purchasing an additional 32,977 shares during the last quarter. Needham Investment Management LLC increased its stake in shares of Photronics by 6.7% in the third quarter. Needham Investment Management LLC now owns 762,500 shares of the semiconductor company’s stock valued at $18,880,000 after purchasing an additional 48,200 shares during the period. Finally, Royce & Associates LP raised its holdings in shares of Photronics by 1.7% during the third quarter. Royce & Associates LP now owns 746,606 shares of the semiconductor company’s stock valued at $18,486,000 after buying an additional 12,603 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.