Photronics, Inc. (NASDAQ:PLAB) Director Sells $95,800.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) Director Walter M. Fiederowicz sold 5,000 shares of the company’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $19.16, for a total value of $95,800.00. Following the completion of the sale, the director now owns 24,548 shares in the company, valued at $470,339.68. This represents a 16.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Photronics Stock Performance

Shares of NASDAQ PLAB opened at $17.51 on Monday. The firm has a market cap of $1.11 billion, a P/E ratio of 8.38 and a beta of 1.40. Photronics, Inc. has a 1 year low of $16.78 and a 1 year high of $31.60. The firm’s 50 day moving average price is $21.50 and its 200 day moving average price is $23.35.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The business had revenue of $212.14 million during the quarter, compared to the consensus estimate of $210.00 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. As a group, equities analysts predict that Photronics, Inc. will post 2.3 EPS for the current year.

Institutional Investors Weigh In On Photronics

Several hedge funds have recently modified their holdings of PLAB. Norges Bank acquired a new position in Photronics during the fourth quarter worth approximately $7,787,000. LSV Asset Management increased its holdings in shares of Photronics by 13.8% during the 4th quarter. LSV Asset Management now owns 2,120,319 shares of the semiconductor company’s stock worth $49,955,000 after buying an additional 257,373 shares during the last quarter. Boston Partners raised its position in shares of Photronics by 45.3% in the 4th quarter. Boston Partners now owns 799,439 shares of the semiconductor company’s stock worth $18,893,000 after buying an additional 249,222 shares during the period. Kestrel Investment Management Corp acquired a new position in Photronics in the fourth quarter valued at $5,163,000. Finally, JPMorgan Chase & Co. grew its position in Photronics by 118.8% during the fourth quarter. JPMorgan Chase & Co. now owns 367,346 shares of the semiconductor company’s stock valued at $8,655,000 after acquiring an additional 199,490 shares during the period. 88.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, DA Davidson upped their target price on shares of Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, December 12th.

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.