Photronics, Inc. (NASDAQ:PLAB) EVP Sells $1,565,550.00 in Stock

Photronics, Inc. (NASDAQ:PLAB) EVP Christopher J. Progler sold 63,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $24.85, for a total value of $1,565,550.00. Following the completion of the transaction, the executive vice president now directly owns 219,166 shares of the company’s stock, valued at approximately $5,446,275.10. This trade represents a 22.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Photronics Trading Down 1.5 %

PLAB opened at $24.04 on Monday. The company has a market cap of $1.52 billion, a P/E ratio of 11.50 and a beta of 1.41. The company’s 50 day moving average is $24.60 and its 200-day moving average is $24.48. Photronics, Inc. has a 1-year low of $20.25 and a 1-year high of $34.16.

Photronics (NASDAQ:PLAB) last issued 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. The firm had revenue of $222.60 million for the quarter, compared to analyst estimates of $218.00 million. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.60 earnings per share. On average, equities analysts forecast that Photronics, Inc. will post 2.3 EPS for the current year.

Hedge Funds Weigh In On Photronics

Several large investors have recently modified their holdings of PLAB. Pacer Advisors Inc. grew its position in shares of Photronics by 17.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,482,856 shares of the semiconductor company’s stock valued at $61,252,000 after buying an additional 364,150 shares during the last quarter. LSV Asset Management raised its holdings in Photronics by 16.0% during the 2nd quarter. LSV Asset Management now owns 1,990,046 shares of the semiconductor company’s stock worth $49,094,000 after purchasing an additional 275,082 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Photronics by 12.8% in the 2nd quarter. American Century Companies Inc. now owns 1,684,647 shares of the semiconductor company’s stock worth $41,560,000 after purchasing an additional 191,809 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Photronics by 20.8% in the 2nd quarter. Victory Capital Management Inc. now owns 505,567 shares of the semiconductor company’s stock valued at $12,472,000 after purchasing an additional 86,938 shares during the last quarter. Finally, Inspire Advisors LLC bought a new stake in Photronics during the second quarter valued at $2,112,000. Institutional investors own 88.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PLAB shares. DA Davidson boosted their target price on shares of Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. StockNews.com raised Photronics from a “hold” rating to a “buy” rating in a report 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.