Insider Selling: Photronics, Inc. (NASDAQ:PLAB) CEO Sells 10,000 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $21.60, for a total value of $216,000.00. Following the completion of the sale, the chief executive officer now directly owns 542,100 shares in the company, valued at $11,709,360. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Kang Jyh Lee also recently made the following trade(s):

• On Wednesday, March 5th, Kang Jyh Lee sold 10,000 shares of Photronics stock. The stock was sold at an average price of $20.90, for a total transaction of $209,000.00.

Photronics Stock Performance

NASDAQ PLAB opened at $18.59 on Tuesday. The stock has a market cap of $1.18 billion, a PE ratio of 8.89 and a beta of 1.40. The firm has a 50-day simple moving average of $19.85 and a 200 day simple moving average of $22.58. Photronics, Inc. has a twelve month low of $16.46 and a twelve month high of $31.60.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The business had revenue of $212.14 million during the quarter, compared to analysts’ expectations of $210.00 million. During the same quarter in the prior year, the business posted $0.48 earnings per share. Research analysts forecast that Photronics, Inc. will post 2.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Photronics in the 4th quarter worth approximately $7,787,000. LSV Asset Management increased its position in 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 purchasing an additional 257,373 shares in the last quarter. Boston Partners grew its holdings in Photronics by 45.3% during the 4th quarter. Boston Partners now owns 799,439 shares of the semiconductor company’s stock valued at $18,893,000 after purchasing an additional 249,222 shares in the last quarter. Kestrel Investment Management Corp bought a new position in shares of Photronics in the 4th quarter worth about $5,163,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Photronics by 118.8% in the 4th 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 in the last quarter. Institutional investors own 88.38% of the company’s stock.

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.