Walter M. Fiederowicz Sells 10,000 Shares of Photronics, Inc. (NASDAQ:PLAB) Stock

Photronics, Inc. (NASDAQ:PLAB) Director Walter M. Fiederowicz sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $24.13, for a total value of $241,300.00. Following the sale, the director now directly owns 32,000 shares of the company’s stock, valued at $772,160. This represents a 23.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Photronics Stock Performance

Photronics stock opened at $24.22 on Thursday. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16. The company has a market capitalization of $1.53 billion, a PE ratio of 11.59 and a beta of 1.39. The company has a 50 day moving average price of $24.68 and a 200-day moving average price of $24.35.

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. 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 period in the previous year, the company posted $0.60 EPS. Photronics’s revenue was down 2.2% on a year-over-year basis. On average, analysts forecast that Photronics, Inc. will post 2.3 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on PLAB. DA Davidson lifted their target price on Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. StockNews.com upgraded shares of Photronics from a “hold” rating to a “buy” rating in a report on Saturday, September 28th.

Institutional Trading of Photronics

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in shares of Photronics by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 511,962 shares of the semiconductor company’s stock valued at $12,630,000 after purchasing an additional 3,289 shares in the last quarter. TD Asset Management Inc raised its stake in Photronics by 7.0% in the second quarter. TD Asset Management Inc now owns 39,800 shares of the semiconductor company’s stock worth $982,000 after buying an additional 2,600 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Photronics by 20.8% during the second quarter. Victory Capital Management Inc. now owns 505,567 shares of the semiconductor company’s stock worth $12,472,000 after buying an additional 86,938 shares during the period. Arizona State Retirement System boosted its position in Photronics by 3.1% during the second quarter. Arizona State Retirement System now owns 17,735 shares of the semiconductor company’s stock valued at $438,000 after purchasing an additional 530 shares in the last quarter. Finally, Koss Olinger Consulting LLC purchased a new position in Photronics in the second quarter valued at about $442,000. 88.38% of the stock is owned by hedge funds and other institutional investors.

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.