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 company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $24.11, for a total value of $476,172.50. Following the transaction, the director now directly owns 22,250 shares in the company, valued at $536,447.50. This represents a 47.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Photronics Stock Performance

Shares of NASDAQ PLAB opened at $24.19 on Wednesday. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16. The stock has a market cap of $1.53 billion, a PE ratio of 11.57 and a beta of 1.41. The stock has a fifty day moving average of $24.59 and a 200-day moving average of $24.45.

Photronics (NASDAQ:PLAB) last posted its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The business had revenue of $222.60 million during the quarter, compared to analyst estimates of $218.00 million. During the same quarter in the previous year, the firm earned $0.60 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts predict that Photronics, Inc. will post 2.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PLAB shares. DA Davidson boosted their price objective on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. StockNews.com raised shares of Photronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th.

Institutional Trading of Photronics

Institutional investors and hedge funds have recently bought and sold shares of the company. US Bancorp DE grew its position in shares of 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 purchasing an additional 701 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake 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 buying an additional 567 shares during the period. Quarry LP grew its position in Photronics by 223.4% during the second quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock worth $65,000 after buying an additional 1,816 shares in the last quarter. GAMMA Investing LLC increased its stake in Photronics by 65.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock worth $73,000 after acquiring an additional 1,164 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Photronics in the 2nd quarter valued at about $75,000. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

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.