Kang Jyh Lee Sells 17,500 Shares of Photronics, Inc. (NASDAQ:PLAB) Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 17,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $24.10, for a total value of $421,750.00. Following the completion of the transaction, the chief executive officer now owns 510,850 shares in the company, valued at $12,311,485. The trade was a 3.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 value of $250,200.00.
• 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 value 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 Price Performance

Shares of NASDAQ PLAB opened at $24.47 on Wednesday. The business’s fifty day moving average price is $24.67 and its 200-day moving average price is $24.35. Photronics, Inc. has a one year low of $20.25 and a one year high of $34.16. The stock has a market capitalization of $1.55 billion, a PE ratio of 11.71 and a beta of 1.39.

Photronics (NASDAQ:PLAB) last issued its 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. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The firm had revenue of $222.60 million during the quarter, compared to analyst estimates of $218.00 million. During the same quarter last year, the business earned $0.60 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities analysts expect that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PLAB shares. DA Davidson raised their price objective 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 research note on Saturday, September 28th.

Institutional Investors Weigh In On Photronics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. M&T Bank Corp purchased a new position in shares of Photronics in the third quarter valued at $252,000. Geode Capital Management LLC grew its holdings in Photronics by 5.1% during 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 buying an additional 85,160 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Photronics by 4.9% during the third quarter. Victory Capital Management Inc. now owns 530,401 shares of the semiconductor company’s stock valued at $13,133,000 after buying an additional 24,834 shares during the period. FMR LLC lifted its holdings in shares of Photronics by 36.0% in the third quarter. FMR LLC now owns 135,208 shares of the semiconductor company’s stock worth $3,348,000 after buying an additional 35,825 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Photronics in the third quarter valued at approximately $730,000. Institutional investors own 88.38% of the company’s stock.

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.