Photronics, Inc. (NASDAQ:PLAB) Director Sells $241,300.00 in Stock

Photronics, Inc. (NASDAQ:PLAB - Get Free Report) Director Walter M. Fiederowicz sold 10,000 shares of the business's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $24.13, for a total transaction of $241,300.00. Following the transaction, the director now owns 32,000 shares in the company, valued at $772,160. This represents a 23.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Photronics Price Performance

NASDAQ:PLAB traded down $0.10 during mid-day trading on Tuesday, hitting $24.47. 1,121,534 shares of the company's stock were exchanged, compared to its average volume of 529,683. The company has a market cap of $1.55 billion, a PE ratio of 11.71 and a beta of 1.39. Photronics, Inc. has a one year low of $20.25 and a one year high of $34.16. The business has a fifty day moving average price of $24.67 and a 200 day moving average price of $24.35.

Photronics (NASDAQ:PLAB - Get Free Report) last issued its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.07. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The firm had revenue of $222.60 million for the quarter, compared to analysts' expectations of $218.00 million. During the same period in the previous year, the firm posted $0.60 EPS. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities analysts forecast that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented 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 raised their price objective on Photronics from $32.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, December 12th.

Hedge Funds Weigh In On Photronics

Several institutional investors and hedge funds have recently modified their holdings of PLAB. M&T Bank Corp purchased a new stake in Photronics during the 3rd quarter valued at about $252,000. Geode Capital Management LLC lifted its stake in shares of Photronics by 5.1% in the third quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company's stock worth $43,217,000 after buying an additional 85,160 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Photronics by 4.9% during the third quarter. Victory Capital Management Inc. now owns 530,401 shares of the semiconductor company's stock valued at $13,133,000 after buying an additional 24,834 shares during the last quarter. FMR LLC increased its position in shares of Photronics by 36.0% during the third quarter. FMR LLC now owns 135,208 shares of the semiconductor company's stock valued at $3,348,000 after acquiring an additional 35,825 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Photronics in the 3rd quarter worth approximately $730,000. 88.38% of the stock is currently owned by institutional investors.

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.