Photronics, Inc. (NASDAQ:PLAB) CEO Sells $421,750.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 17,500 shares of the company’s stock in a transaction dated 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. This represents a 3.31 % 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 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 transaction 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 transaction 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 transaction of $505,400.00.

Photronics Stock Performance

Shares of PLAB opened at $24.47 on Wednesday. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 11.71 and a beta of 1.39. The firm has a 50 day moving average price of $24.67 and a 200-day moving average price of $24.35.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, topping 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 business had revenue of $222.60 million during the quarter, compared to the consensus estimate of $218.00 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities research analysts predict that Photronics, Inc. will post 2.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Photronics

Several institutional investors have recently bought and sold shares of PLAB. Pacer Advisors Inc. lifted its position in Photronics by 17.2% in the second quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company’s stock valued at $61,252,000 after purchasing an additional 364,150 shares during the last quarter. LSV Asset Management raised its holdings in Photronics by 16.0% during the 2nd quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock valued at $49,094,000 after buying an additional 275,082 shares during the last quarter. American Century Companies Inc. boosted its position in Photronics by 12.8% during the 2nd quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock valued at $41,560,000 after buying an additional 191,809 shares during the period. Victory Capital Management Inc. grew its holdings in Photronics by 20.8% in the 2nd quarter. Victory Capital Management Inc. now owns 505,567 shares of the semiconductor company’s stock worth $12,472,000 after acquiring an additional 86,938 shares during the last quarter. Finally, Inspire Advisors LLC purchased a new position in shares of Photronics in the second quarter valued at about $2,112,000. 88.38% of the stock is currently owned by hedge funds and other 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.