Insider Selling: Photronics, Inc. (NASDAQ:PLAB) CEO Sells 10,000 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 10,000 shares of Photronics stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $25.02, for a total transaction of $250,200.00. Following the sale, the chief executive officer now directly owns 580,850 shares in the company, valued at $14,532,867. The trade was a 1.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, January 2nd, Kang Jyh Lee sold 17,500 shares of Photronics stock. The stock was 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 stock was 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 shares were sold at an average price of $25.27, for a total value of $505,400.00.

Photronics Stock Down 1.0 %

Shares of PLAB opened at $24.22 on Thursday. The stock has a market cap of $1.53 billion, a P/E ratio of 11.59 and a beta of 1.39. The business’s 50 day moving average price is $24.68 and its 200-day moving average price is $24.35. Photronics, Inc. has a 52 week low of $20.25 and a 52 week high of $34.16.

Photronics (NASDAQ:PLAB) last released its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $218.00 million. During the same period in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Photronics, Inc. will post 2.3 EPS for the current year.

Analyst Upgrades and Downgrades

PLAB has been the subject of a number of research reports. StockNews.com upgraded Photronics from a “hold” rating to a “buy” rating in a report on Saturday, September 28th. DA Davidson increased their price target 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 Trading of Photronics

Several institutional investors have recently bought and sold shares of PLAB. US Bancorp DE raised its holdings in Photronics by 137.2% in the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after buying an additional 701 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Photronics by 65.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 567 shares in the last quarter. Quarry LP raised its holdings in Photronics by 223.4% in the 2nd quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,816 shares during the last quarter. GAMMA Investing LLC lifted its position in Photronics by 65.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after acquiring an additional 1,164 shares in the last quarter. Finally, Palouse Capital Management Inc. purchased a new stake in Photronics during the 2nd quarter valued at $75,000. 88.38% of the stock is 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.