Kang Jyh Lee Sells 17,500 Shares of Photronics, Inc. (NASDAQ:PLAB) Stock

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 17,500 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $24.00, for a total transaction of $420,000.00. Following the completion of the transaction, the chief executive officer now owns 528,350 shares in the company, valued at approximately $12,680,400. This trade represents a 3.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 Price Performance

PLAB opened at $23.92 on Friday. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 11.44 and a beta of 1.41. The firm has a 50 day simple moving average of $24.62 and a 200 day simple moving average of $24.41. Photronics, Inc. has a fifty-two week low of $20.25 and a fifty-two week high of $34.16.

Photronics (NASDAQ:PLAB) last posted 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 during the quarter, compared to the consensus estimate of $218.00 million. Photronics had a net margin of 15.07% and a return on equity of 9.10%. Photronics’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. As a group, analysts expect that Photronics, Inc. will post 2.3 EPS for the current year.

Institutional Investors Weigh In On Photronics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Arizona State Retirement System raised its stake in shares of Photronics by 3.1% during the second quarter. Arizona State Retirement System now owns 17,735 shares of the semiconductor company’s stock worth $438,000 after buying an additional 530 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Photronics by 65.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,434 shares of the semiconductor company’s stock worth $36,000 after buying an additional 567 shares during the last quarter. US Bancorp DE raised its stake in shares of Photronics by 137.2% during the third quarter. US Bancorp DE now owns 1,212 shares of the semiconductor company’s stock worth $30,000 after buying an additional 701 shares during the last quarter. Koss Olinger Consulting LLC increased its stake in Photronics by 4.3% in the third quarter. Koss Olinger Consulting LLC now owns 18,714 shares of the semiconductor company’s stock valued at $463,000 after purchasing an additional 780 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Photronics by 2.9% in the second quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the semiconductor company’s stock valued at $787,000 after purchasing an additional 900 shares in the last quarter. 88.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. DA Davidson upped their target price on shares of 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 research 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.