Photronics, Inc. (NASDAQ:PLAB) Director Adam M. Lewis Sells 19,750 Shares

Photronics, Inc. (NASDAQ:PLAB) Director Adam M. Lewis sold 19,750 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $24.11, for a total value of $476,172.50. Following the completion of the transaction, the director now directly owns 22,250 shares of the company’s stock, valued at approximately $536,447.50. This trade represents a 47.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Photronics Trading Down 0.8 %

NASDAQ:PLAB traded down $0.19 during mid-day trading on Monday, hitting $23.85. The company’s stock had a trading volume of 514,417 shares, compared to its average volume of 497,263. The stock has a fifty day moving average of $24.60 and a 200-day moving average of $24.47. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 11.41 and a beta of 1.41. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16.

Photronics (NASDAQ:PLAB) last posted 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 during the quarter, compared to the consensus estimate of $218.00 million. During the same quarter last year, the company earned $0.60 EPS. Photronics’s revenue was down 2.2% on a year-over-year basis. On average, equities analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PLAB shares. DA Davidson boosted their price objective on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. StockNews.com upgraded shares of Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th.

Hedge Funds Weigh In On Photronics

Several institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in shares of Photronics by 3.1% during the second quarter. Arizona State Retirement System now owns 17,735 shares of the semiconductor company’s stock worth $438,000 after buying an additional 530 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Photronics by 65.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 567 shares in the last quarter. US Bancorp DE raised its position in Photronics by 137.2% in the 3rd 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 during the last quarter. Koss Olinger Consulting LLC raised its position in Photronics by 4.3% in the 3rd quarter. Koss Olinger Consulting LLC now owns 18,714 shares of the semiconductor company’s stock valued at $463,000 after purchasing an additional 780 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Photronics by 2.9% in the second quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the semiconductor company’s stock worth $787,000 after purchasing an additional 900 shares in the last quarter. 88.38% of the stock is owned by 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.