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

Photronics, Inc. (NASDAQ:PLAB - Get Free Report) CEO Kang Jyh Lee sold 10,000 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $25.02, for a total transaction of $250,200.00. Following the completion of the transaction, the chief executive officer now directly owns 580,850 shares in the company, valued at approximately $14,532,867. The trade was a 1.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Thursday, January 2nd, Kang Jyh Lee sold 17,500 shares of Photronics stock. The shares were sold at an average price of $24.10, for a total value 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 shares were sold at an average price of $25.27, for a total transaction of $505,400.00.

Photronics Stock Down 0.4 %

Shares of Photronics stock traded down $0.10 during trading on Tuesday, reaching $24.47. The company's stock had a trading volume of 1,121,534 shares, compared to its average volume of 529,683. Photronics, Inc. has a 52-week low of $20.25 and a 52-week high of $34.16. The firm's 50-day moving average is $24.67 and its two-hundred day moving average is $24.35. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 11.71 and a beta of 1.39.

Photronics (NASDAQ:PLAB - Get Free Report) last posted its quarterly earnings results on Wednesday, December 11th. The semiconductor company reported $0.59 earnings per share (EPS) 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 business had revenue of $222.60 million during the quarter, compared to analyst estimates of $218.00 million. During the same period in the prior year, the business posted $0.60 earnings per share. The company's revenue was down 2.2% on a year-over-year basis. On average, equities research analysts anticipate that Photronics, Inc. will post 2.3 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Photronics from a "hold" rating to a "buy" rating in a research report 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 report on Thursday, December 12th.

Hedge Funds Weigh In On Photronics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in Photronics by 17.6% in the fourth 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 during the last quarter. Franklin Resources Inc. increased its stake in shares of Photronics by 4.8% in the third quarter. Franklin Resources Inc. now owns 70,175 shares of the semiconductor company's stock worth $1,694,000 after buying an additional 3,217 shares during the period. Sanctuary Advisors LLC raised its holdings in Photronics by 12.9% during the 3rd 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 during the last quarter. Meros Investment Management LP boosted its position in Photronics by 5.6% during the 3rd quarter. Meros Investment Management LP now owns 476,395 shares of the semiconductor company's stock valued at $11,796,000 after buying an additional 25,471 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Photronics by 5.1% in the 3rd 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. 88.38% of the stock is currently owned by institutional investors.

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.