Photronics, Inc. (NASDAQ:PLAB) Director Adam M. Lewis Sells 19,750 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB) Director Adam M. Lewis sold 19,750 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $24.11, for a total transaction of $476,172.50. Following the completion of the sale, the director now directly owns 22,250 shares of the company’s stock, valued at $536,447.50. This represents a 47.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Photronics Trading Down 0.8 %

Shares of NASDAQ:PLAB opened at $23.85 on Tuesday. The firm has a 50 day moving average of $24.60 and a 200-day moving average of $24.47. Photronics, Inc. has a 12 month low of $20.25 and a 12 month high of $34.16. The stock has a market capitalization of $1.51 billion, a PE ratio of 11.41 and a beta of 1.41.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Wednesday, December 11th. The semiconductor company reported $0.59 EPS for the quarter, beating the consensus estimate 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%. The company’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 earnings per share. On average, research analysts predict that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. StockNews.com upgraded Photronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th. DA Davidson upped their target price on Photronics from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, December 12th.

Institutional Trading of Photronics

Large investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System lifted its holdings in shares of Photronics by 2.9% in the second quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the semiconductor company’s stock worth $787,000 after acquiring an additional 900 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Photronics by 21.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 171,743 shares of the semiconductor company’s stock valued at $4,237,000 after buying an additional 30,888 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Photronics during the second quarter worth $212,000. Finally, Innealta Capital LLC acquired a new stake in shares of Photronics during the 2nd quarter valued at $75,000. 88.38% of the stock is owned by institutional investors and hedge funds.

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.