Insider Selling: Photronics, Inc. (NASDAQ:PLAB) Director Sells 5,000 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB) Director Walter M. Fiederowicz sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $19.16, for a total value of $95,800.00. Following the completion of the sale, the director now directly owns 24,548 shares of the company’s stock, valued at approximately $470,339.68. This trade represents a 16.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Photronics Stock Down 3.6 %

NASDAQ:PLAB opened at $17.51 on Friday. The firm has a market capitalization of $1.11 billion, a P/E ratio of 8.38 and a beta of 1.43. The company has a fifty day moving average of $21.50 and a 200 day moving average of $23.35. Photronics, Inc. has a 52 week low of $16.78 and a 52 week high of $31.60.

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

Institutional Investors Weigh In On Photronics

Institutional investors and hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its holdings in shares of Photronics by 216.5% during the fourth 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 in the last quarter. Federated Hermes Inc. purchased a new position in Photronics during the 4th quarter valued at $47,000. Parkside Financial Bank & Trust raised its holdings in Photronics by 65.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,283 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 904 shares in the last quarter. Menard Financial Group LLC purchased a new stake in shares of Photronics in the 4th quarter worth about $66,000. Finally, GAMMA Investing LLC boosted its stake in shares of Photronics by 17.6% during the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 516 shares in the last quarter. Hedge funds and other institutional investors own 88.38% of the company’s stock.

Wall Street Analyst Weigh In

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

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.