Insider Selling: Photronics, Inc. (NASDAQ:PLAB) Director Sells $240,100.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) Director Walter M. Fiederowicz sold 10,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $24.01, for a total transaction of $240,100.00. Following the completion of the sale, the director now directly owns 50,000 shares in the company, valued at approximately $1,200,500. This represents a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Photronics Stock Down 1.4 %

PLAB opened at $23.92 on Monday. Photronics, Inc. has a twelve month low of $20.25 and a twelve month high of $34.16. The company has a fifty day moving average of $24.62 and a 200-day moving average of $24.40. The stock has a market cap of $1.51 billion, a PE ratio of 11.44 and a beta of 1.41.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Photronics had a return on equity of 9.10% and a net margin of 15.07%. 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 business posted $0.60 EPS. The business’s revenue was down 2.2% compared to the same quarter last year. Sell-side analysts anticipate that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Photronics

A number of hedge funds have recently added to or reduced their stakes in PLAB. Arizona State Retirement System boosted its holdings in shares of Photronics by 3.1% during the 2nd 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 boosted its stake in Photronics by 65.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 567 shares in the last quarter. US Bancorp DE grew its holdings in Photronics by 137.2% in the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 701 shares during the period. Koss Olinger Consulting LLC increased its stake in Photronics by 4.3% in the third 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 in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings 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 valued at $787,000 after purchasing an additional 900 shares during the period. 88.38% of the stock is currently 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.