Insider Selling: Photronics, Inc. (NASDAQ:PLAB) Director Sells 19,750 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB) Director Adam M. Lewis sold 19,750 shares of Photronics stock in a transaction on Friday, December 20th. The stock was sold at an average price of $24.11, for a total transaction of $476,172.50. Following the transaction, the director now owns 22,250 shares in the company, valued at approximately $536,447.50. This trade represents a 47.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Photronics Stock Down 0.8 %

PLAB opened at $23.85 on Tuesday. Photronics, Inc. has a twelve month low of $20.25 and a twelve month high of $34.16. The company has a fifty day moving average of $24.60 and a 200-day moving average of $24.47. The stock has a market cap of $1.51 billion, a PE ratio of 11.41 and a beta of 1.41.

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Photronics

Hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its position in shares of Photronics by 17.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company’s stock worth $61,252,000 after buying an additional 364,150 shares during the period. LSV Asset Management increased its stake in Photronics by 16.0% in the second 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 in the last quarter. American Century Companies Inc. raised its holdings in shares of Photronics by 12.8% during the second 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 period. Victory Capital Management Inc. raised its holdings in shares of Photronics by 20.8% during the second quarter. Victory Capital Management Inc. now owns 505,567 shares of the semiconductor company’s stock valued at $12,472,000 after purchasing an additional 86,938 shares during the period. Finally, Inspire Advisors LLC bought a new position in shares of Photronics during the 2nd quarter worth about $2,112,000. 88.38% of the stock is currently owned by institutional investors.

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.