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 firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $24.00, for a total value of $420,000.00. Following the completion of the transaction, the chief executive officer now directly owns 528,350 shares of the company’s stock, valued at approximately $12,680,400. This trade represents a 3.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 transaction of $505,400.00.

Photronics Stock Down 1.4 %

Photronics stock traded down $0.35 during mid-day trading on Friday, hitting $23.92. 300,624 shares of the company were exchanged, compared to its average volume of 495,209. The company has a market capitalization of $1.51 billion, a PE ratio of 11.44 and a beta of 1.41. The business has a fifty day moving average of $24.62 and a 200 day moving average of $24.44. Photronics, Inc. has a 1-year low of $20.25 and a 1-year high of $34.16.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $218.00 million. During the same period last year, the firm posted $0.60 EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. Research analysts expect that Photronics, Inc. will post 2.3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PLAB. Louisiana State Employees Retirement System raised its stake in shares of Photronics by 2.9% during the second quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the semiconductor company’s stock worth $787,000 after buying an additional 900 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Photronics by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 511,962 shares of the semiconductor company’s stock valued at $12,630,000 after acquiring an additional 3,289 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Photronics by 21.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 171,743 shares of the semiconductor company’s stock valued at $4,237,000 after purchasing an additional 30,888 shares during the period. Innealta Capital LLC bought a new position in shares of Photronics in the 2nd quarter worth $75,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Photronics in the 2nd quarter worth $817,000. 88.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PLAB has been the topic of several recent research reports. StockNews.com upgraded shares of Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th. DA Davidson lifted their price objective on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, December 12th.

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.