Photronics, Inc. (NASDAQ:PLAB) EVP Christopher J. Progler Sells 63,000 Shares

Photronics, Inc. (NASDAQ:PLAB) EVP Christopher J. Progler sold 63,000 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $24.85, for a total transaction of $1,565,550.00. Following the completion of the sale, the executive vice president now owns 219,166 shares of the company’s stock, valued at $5,446,275.10. This represents a 22.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Photronics Price Performance

Shares of PLAB opened at $24.04 on Friday. The company has a market capitalization of $1.52 billion, a PE ratio of 11.50 and a beta of 1.41. Photronics, Inc. has a one year low of $20.25 and a one year high of $34.16. The company’s fifty day moving average price is $24.60 and its 200 day moving average price is $24.49.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. M&T Bank Corp acquired a new position in Photronics during the 3rd quarter valued at $252,000. Victory Capital Management Inc. increased its holdings in shares of Photronics by 4.9% during the 3rd quarter. Victory Capital Management Inc. now owns 530,401 shares of the semiconductor company’s stock worth $13,133,000 after purchasing an additional 24,834 shares during the period. FMR LLC raised its position in shares of Photronics by 36.0% during the third quarter. FMR LLC now owns 135,208 shares of the semiconductor company’s stock valued at $3,348,000 after buying an additional 35,825 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Photronics in the third quarter valued at about $730,000. Finally, Inspire Advisors LLC acquired a new stake in Photronics during the second quarter worth about $2,112,000. 88.38% of the stock is currently owned by institutional investors and hedge funds.

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.