Photronics, Inc. (NASDAQ:PLAB) Director Sells $95,800.00 in Stock

Photronics, Inc. (NASDAQ:PLAB - Get Free Report) Director Walter M. Fiederowicz sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $19.16, for a total transaction of $95,800.00. Following the transaction, the director now directly owns 24,548 shares of the company's stock, valued at $470,339.68. This represents a 16.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Photronics Stock Up 3.9 %

Shares of NASDAQ PLAB traded up $0.66 during midday trading on Wednesday, hitting $17.58. The stock had a trading volume of 291,925 shares, compared to its average volume of 492,718. The business's 50 day moving average is $21.17 and its 200-day moving average is $23.21. Photronics, Inc. has a 52 week low of $16.46 and a 52 week high of $31.60. The company has a market cap of $1.12 billion, a P/E ratio of 8.35 and a beta of 1.40.

Photronics (NASDAQ:PLAB - Get Free Report) last issued its 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 the consensus estimate of $210.00 million. Photronics had a return on equity of 9.10% and a net margin of 15.07%. During the same period last year, the business posted $0.48 EPS. As a group, analysts expect that Photronics, Inc. will post 2.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Photronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp bought a new position in shares of Photronics during the 3rd quarter valued at $252,000. Geode Capital Management LLC lifted its holdings in Photronics by 5.1% in the third quarter. Geode Capital Management LLC now owns 1,745,165 shares of the semiconductor company's stock valued at $43,217,000 after acquiring an additional 85,160 shares during the period. FMR LLC boosted its position in Photronics by 36.0% in the third quarter. FMR LLC now owns 135,208 shares of the semiconductor company's stock worth $3,348,000 after purchasing an additional 35,825 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Photronics by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,007,582 shares of the semiconductor company's stock valued at $23,739,000 after purchasing an additional 40,579 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Photronics during the 4th quarter valued at about $298,000. Hedge funds and other institutional investors own 88.38% of the company's stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson increased their target price on Photronics from $32.00 to $35.00 and gave the stock a "buy" rating in a research note 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.