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

Photronics, Inc. (NASDAQ:PLAB) Director Walter M. Fiederowicz sold 10,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 32,000 shares in the company, valued at approximately $772,160. The trade was a 23.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Photronics Trading Down 1.0 %

Shares of NASDAQ PLAB opened at $24.22 on Thursday. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 11.59 and a beta of 1.39. Photronics, Inc. has a 12 month low of $20.25 and a 12 month high of $34.16. The company has a 50 day simple moving average of $24.68 and a two-hundred day simple moving average of $24.35.

Photronics (NASDAQ:PLAB) last posted 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. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The firm 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 firm earned $0.60 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. Analysts forecast that Photronics, Inc. will post 2.3 EPS for the current year.

Institutional Investors Weigh In On Photronics

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Photronics by 17.6% in the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 516 shares in the last quarter. Franklin Resources Inc. grew its holdings in Photronics by 4.8% in the third quarter. Franklin Resources Inc. now owns 70,175 shares of the semiconductor company’s stock valued at $1,694,000 after purchasing an additional 3,217 shares during the period. Sanctuary Advisors LLC increased 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 in the last quarter. Meros Investment Management LP raised its stake in shares of Photronics by 5.6% during the 3rd quarter. Meros Investment Management LP now owns 476,395 shares of the semiconductor company’s stock worth $11,796,000 after buying an additional 25,471 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Photronics by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock valued at $43,217,000 after buying an additional 85,160 shares in the last quarter. 88.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on PLAB shares. StockNews.com upgraded Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th. DA Davidson increased their price objective 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.

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.