Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee Sells 8,750 Shares

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 8,750 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $24.40, for a total transaction of $213,500.00. Following the completion of the sale, the chief executive officer now directly owns 572,100 shares of the company’s stock, valued at $13,959,240. The trade was a 1.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, January 6th, Kang Jyh Lee sold 10,000 shares of Photronics stock. The stock was sold at an average price of $25.02, for a total value of $250,200.00.
• On Thursday, January 2nd, Kang Jyh Lee sold 17,500 shares of Photronics stock. The stock was sold at an average price of $24.10, for a total value of $421,750.00.
• On Tuesday, December 24th, Kang Jyh Lee sold 17,500 shares of Photronics stock. The shares were sold at an average price of $24.00, for a total transaction of $420,000.00.
• On Thursday, December 19th, Kang Jyh Lee sold 20,000 shares of Photronics stock. The stock was sold at an average price of $25.27, for a total transaction of $505,400.00.

Photronics Stock Performance

PLAB traded down $0.47 on Tuesday, hitting $24.10. 498,373 shares of the company were exchanged, compared to its average volume of 502,298. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16. The firm has a market capitalization of $1.53 billion, a P/E ratio of 11.53 and a beta of 1.39. The business’s fifty day moving average is $24.62 and its 200 day moving average is $24.30.

Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The business 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 company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. Analysts forecast that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PLAB. Exchange Traded Concepts LLC grew its holdings in Photronics by 2.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 57,015 shares of the semiconductor company’s stock valued at $1,343,000 after buying an additional 1,333 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Photronics in the 4th quarter valued at about $298,000. GAMMA Investing LLC boosted its stake in shares of Photronics by 17.6% during the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 516 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Photronics by 4.8% during the third quarter. Franklin Resources Inc. now owns 70,175 shares of the semiconductor company’s stock worth $1,694,000 after buying an additional 3,217 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its position in shares of Photronics by 12.9% in the third quarter. Sanctuary Advisors LLC now owns 73,350 shares of the semiconductor company’s stock valued at $1,826,000 after buying an additional 8,372 shares during the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PLAB shares. DA Davidson increased their price target on shares of Photronics from $32.00 to $35.00 and gave the stock a “buy” rating in a 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.