Photronics (NASDAQ:PLAB) Hits New 52-Week Low – Here’s Why

Photronics, Inc. (NASDAQ:PLAB) hit a new 52-week low on Wednesday . The company traded as low as $19.16 and last traded at $21.79, with a volume of 17262 shares. The stock had previously closed at $20.70.

Wall Street Analysts Forecast Growth

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

Photronics Trading Up 3.5 %

The business has a fifty day moving average price of $23.33 and a 200-day moving average price of $23.89. The stock has a market capitalization of $1.36 billion, a PE ratio of 10.25 and a beta of 1.37.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, topping 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%. During the same period in the previous year, the company posted $0.48 earnings per share. On average, equities analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Insider Transactions at Photronics

In other news, SVP Han Kyung Park sold 11,250 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $23.80, for a total value of $267,750.00. Following the completion of the transaction, the senior vice president now directly owns 102,500 shares in the company, valued at approximately $2,439,500. This represents a 9.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Walter M. Fiederowicz sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $24.01, for a total value of $240,100.00. Following the completion of the transaction, the director now owns 50,000 shares of the company’s stock, valued at $1,200,500. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 199,000 shares of company stock worth $4,878,810. 3.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Photronics

Institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in Photronics by 216.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,114 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 762 shares during the period. US Bancorp DE boosted its holdings in Photronics by 137.2% during the 3rd quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 701 shares during the period. Nisa Investment Advisors LLC boosted 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 acquiring an additional 567 shares during the period. Federated Hermes Inc. purchased a new stake in Photronics during the 4th quarter valued at about $47,000. Finally, Parkside Financial Bank & Trust boosted its holdings in Photronics by 65.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 904 shares during the period. 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.