Insider Selling: Photronics, Inc. (NASDAQ:PLAB) Director Sells 10,000 Shares of Stock

Photronics, Inc. (NASDAQ:PLAB - Get Free Report) Director Walter M. Fiederowicz sold 10,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $21.63, for a total value of $216,300.00. Following the completion of the sale, the director now owns 29,548 shares in the company, valued at approximately $639,123.24. The trade was a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Photronics Price Performance

Shares of PLAB traded down $0.68 during mid-day trading on Friday, reaching $20.60. The company's stock had a trading volume of 652,276 shares, compared to its average volume of 481,004. The company's 50 day moving average is $21.94 and its 200 day moving average is $23.48. The stock has a market cap of $1.31 billion, a PE ratio of 9.86 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. Photronics had a net margin of 15.07% and a return on equity of 9.10%. The business had revenue of $212.14 million during the quarter, compared to the consensus estimate of $210.00 million. During the same quarter in the previous year, the firm earned $0.48 EPS. As a group, sell-side analysts anticipate that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

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Institutional Trading of Photronics

Large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Photronics during the fourth quarter worth about $298,000. Menard Financial Group LLC purchased a new stake in Photronics during the 4th quarter valued at approximately $66,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Photronics during the 4th quarter worth approximately $3,419,000. Heck Capital Advisors LLC purchased a new position in shares of Photronics in the 4th quarter valued at approximately $110,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Photronics in the fourth quarter valued at approximately $656,000. Institutional investors and hedge funds own 88.38% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, 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.

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.