Photronics, Inc. (NASDAQ:PLAB - Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $19.16 and last traded at $21.79, with a volume of 17262 shares trading hands. The stock had previously closed at $20.70.
Wall Street Analysts Forecast Growth
Separately, DA Davidson lifted their target price on Photronics from $32.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, December 12th.
View Our Latest Analysis on PLAB
Photronics Stock Up 1.2 %
The firm has a market cap of $1.32 billion, a PE ratio of 9.97 and a beta of 1.37. The stock has a 50 day moving average price of $23.11 and a two-hundred day moving average price of $23.84.
Photronics (NASDAQ:PLAB - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The semiconductor company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.05. Photronics had a return on equity of 9.10% and a net margin of 15.07%. The business had revenue of $212.14 million for the quarter, compared to analyst estimates of $210.00 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. As a group, equities analysts anticipate that Photronics, Inc. will post 2.3 earnings per share for the current year.
Insider Buying and Selling
In other Photronics news, EVP Christopher J. Progler sold 63,000 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $24.85, for a total value of $1,565,550.00. Following the sale, the executive vice president now owns 219,166 shares in the company, valued at approximately $5,446,275.10. This represents a 22.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kang Jyh Lee sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $25.27, for a total value of $505,400.00. Following the completion of the sale, the chief executive officer now owns 524,600 shares in the company, valued at approximately $13,256,642. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 199,000 shares of company stock worth $4,878,810. 3.20% of the stock is owned by company insiders.
Institutional Investors Weigh In On Photronics
Several hedge funds have recently bought and sold shares of PLAB. Norges Bank purchased a new stake in Photronics in the 4th quarter worth approximately $7,787,000. LSV Asset Management boosted its position in Photronics by 13.8% in the 4th quarter. LSV Asset Management now owns 2,120,319 shares of the semiconductor company's stock worth $49,955,000 after purchasing an additional 257,373 shares in the last quarter. Boston Partners lifted its position in shares of Photronics by 45.3% during the 4th quarter. Boston Partners now owns 799,439 shares of the semiconductor company's stock valued at $18,893,000 after buying an additional 249,222 shares in the last quarter. Kestrel Investment Management Corp purchased a new position in shares of Photronics during the 4th quarter valued at approximately $5,163,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Photronics by 118.8% during the 4th quarter. JPMorgan Chase & Co. now owns 367,346 shares of the semiconductor company's stock valued at $8,655,000 after buying an additional 199,490 shares in the last quarter. Hedge funds and other institutional investors own 88.38% of the company's stock.
About Photronics
(
Get Free Report)
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.
Further Reading
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