Photronics, Inc. (NASDAQ:PLAB) CEO Sells $420,000.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $24.00, for a total transaction of $420,000.00. Following the completion of the sale, the chief executive officer now directly owns 528,350 shares of the company’s stock, valued at $12,680,400. The trade was a 3.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, December 19th, Kang Jyh Lee sold 20,000 shares of Photronics stock. The shares were sold at an average price of $25.27, for a total transaction of $505,400.00.

Photronics Price Performance

PLAB stock opened at $23.92 on Friday. The stock has a market capitalization of $1.51 billion, a P/E ratio of 11.44 and a beta of 1.41. The business has a 50-day moving average of $24.62 and a 200-day moving average of $24.41. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. The company had revenue of $222.60 million during the quarter, compared to analysts’ expectations of $218.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. Photronics’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. Equities analysts expect that Photronics, Inc. will post 2.3 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE boosted its position in shares of Photronics by 137.2% during the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after buying an additional 701 shares during the period. Nisa Investment Advisors LLC boosted its position in Photronics by 65.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 567 shares during the last quarter. Quarry LP boosted its position in Photronics by 223.4% during the second quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 1,816 shares during the last quarter. GAMMA Investing LLC boosted its position in Photronics by 65.8% during the third quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock valued at $73,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in Photronics during the second quarter valued at approximately $75,000. 88.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on PLAB. StockNews.com raised shares of Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th. DA Davidson raised their price objective on shares of Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, December 12th.

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.