Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee Sells 10,000 Shares

Photronics, Inc. (NASDAQ:PLAB) CEO Kang Jyh Lee sold 10,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $20.90, for a total transaction of $209,000.00. Following the transaction, the chief executive officer now directly owns 552,100 shares of the company’s stock, valued at $11,538,890. This represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, January 16th, Kang Jyh Lee sold 8,750 shares of Photronics stock. The stock was sold at an average price of $24.40, for a total transaction of $213,500.00.
• 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 transaction 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 transaction of $421,750.00.
• On Tuesday, December 24th, Kang Jyh Lee sold 17,500 shares of Photronics stock. The stock was 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 Price Performance

PLAB stock opened at $21.71 on Monday. The company’s 50 day simple moving average is $22.77 and its 200-day simple moving average is $23.75. The firm has a market capitalization of $1.38 billion, a PE ratio of 10.39 and a beta of 1.43. Photronics, Inc. has a 12 month low of $19.61 and a 12 month high of $31.60.

Photronics (NASDAQ:PLAB) last released its quarterly earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $212.14 million for the quarter, compared to analyst estimates of $210.00 million. Photronics had a net margin of 15.07% and a return on equity of 9.10%. During the same period in the prior year, the business earned $0.48 earnings per share. As a group, sell-side analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current year.

Institutional Trading of Photronics

Several large investors have recently modified their holdings of PLAB. M&T Bank Corp acquired a new stake in Photronics during the third quarter worth approximately $252,000. Geode Capital Management LLC boosted its position in Photronics by 5.1% during the third quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company’s stock worth $43,217,000 after acquiring an additional 85,160 shares during the last quarter. Victory Capital Management Inc. boosted its position in Photronics by 4.9% during the third quarter. Victory Capital Management Inc. now owns 530,401 shares of the semiconductor company’s stock worth $13,133,000 after acquiring an additional 24,834 shares during the last quarter. FMR LLC boosted its position in Photronics by 36.0% during the third quarter. FMR LLC now owns 135,208 shares of the semiconductor company’s stock worth $3,348,000 after acquiring an additional 35,825 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Photronics during the fourth quarter worth approximately $298,000. 88.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, 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.

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.