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

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

Photronics Price Performance

Shares of PLAB stock traded down $0.19 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 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. The firm’s fifty day moving average price is $24.60 and its 200-day moving average price is $24.47.

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

Hedge Funds Weigh In On Photronics

A number of institutional investors have recently modified their holdings of PLAB. Franklin Resources Inc. increased its stake in shares of Photronics by 4.8% in the third quarter. Franklin Resources Inc. now owns 70,175 shares of the semiconductor company’s stock worth $1,694,000 after purchasing an additional 3,217 shares during the period. Sanctuary Advisors LLC boosted its position in shares of Photronics by 12.9% in the third quarter. Sanctuary Advisors LLC now owns 73,350 shares of the semiconductor company’s stock valued at $1,826,000 after acquiring an additional 8,372 shares during the period. Meros Investment Management LP grew its stake in shares of Photronics by 5.6% in the third quarter. Meros Investment Management LP now owns 476,395 shares of the semiconductor company’s stock worth $11,796,000 after acquiring an additional 25,471 shares during the last quarter. Geode Capital Management LLC increased its position in Photronics by 5.1% during the third quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock worth $43,217,000 after acquiring an additional 85,160 shares during the period. Finally, M&T Bank Corp acquired a new position in Photronics during the 3rd quarter valued at $252,000. Institutional investors own 88.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. DA Davidson upped their price target on shares of Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. StockNews.com raised Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th.

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.