Photronics, Inc. (NASDAQ:PLAB) EVP Christopher J. Progler Sells 63,000 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB) EVP Christopher J. Progler sold 63,000 shares of the stock in a transaction on 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 owns 219,166 shares of the company’s stock, valued at $5,446,275.10. This trade represents a 22.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Photronics Trading Down 1.5 %

Shares of PLAB stock opened at $24.04 on Friday. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 11.50 and a beta of 1.41. Photronics, Inc. has a 1-year low of $20.25 and a 1-year high of $34.16. The stock’s fifty day simple moving average is $24.60 and its 200-day simple moving average is $24.49.

Photronics (NASDAQ:PLAB) last released its earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The company had revenue of $222.60 million for 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%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. 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 analysts have commented on PLAB shares. StockNews.com raised shares of Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th. DA Davidson upped their price target 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.

Institutional Investors Weigh In On Photronics

Institutional investors have recently modified their holdings of the stock. US Bancorp DE increased its stake in shares of Photronics by 137.2% in the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 701 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Photronics by 65.4% in 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 in the last quarter. Quarry LP increased its position in Photronics by 223.4% in the 2nd quarter. Quarry LP now owns 2,629 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,816 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Photronics by 65.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,932 shares of the semiconductor company’s stock worth $73,000 after purchasing an additional 1,164 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Photronics during the 2nd quarter worth about $75,000. Institutional investors and hedge funds own 88.38% of the company’s stock.

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.