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 the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $25.02, for a total value of $250,200.00. Following the completion of the sale, the chief executive officer now directly owns 580,850 shares of the company’s stock, valued at approximately $14,532,867. This trade represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 shares were sold at an average price of $24.10, for a total value of $421,750.00.
• 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 shares were sold at an average price of $25.27, for a total value of $505,400.00.

Photronics Price Performance

NASDAQ:PLAB traded down $0.10 during mid-day trading on Tuesday, reaching $24.47. 888,132 shares of the company’s stock traded hands, compared to its average volume of 529,583. Photronics, Inc. has a 12-month low of $20.25 and a 12-month high of $34.16. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 11.71 and a beta of 1.39. The company has a 50 day moving average price of $24.67 and a 200-day moving average price of $24.35.

Photronics (NASDAQ:PLAB) last announced its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $218.00 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, analysts forecast that Photronics, Inc. will post 2.3 EPS for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

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